Summary | China's VAT reform restructures economy, encourages
entrepreneurship - Business - Chinadaily.Such a crude system
resulted in a tax on tax.VAT avoids this, as it is applied to
the value added at each link in the production chain.From May
2016 to June 2017, taxes were reduced by over 850 billion
yuan.An across-the-board replacement with VAT has far more ...
entrepreneurship - Business - Chinadaily.Such a crude system
resulted in a tax on tax.VAT avoids this, as it is applied to
the value added at each link in the production chain.From May
2016 to June 2017, taxes were reduced by over 850 billion
yuan.An across-the-board replacement with VAT has far more ...
chinadaily.com.cn | 02 December 2017