China will soon grant tax rebates on the Value Added Tax paid by state energy companies when selling imported natural gas. As announced by the Ministry of Finance on August 22nd, the new measure is aimed at reducing the losses incurred by the companies when selling imported gas at the prices set by the government, as the import price often exceeds the national sale price. The new rebate policy will only cover government approved companies, and will apply to sales made between the ... Read More

Tax revenues in China have surged ahead by 30 percent in the first half of the year, giving the government extra room to handle the continuously rising debts held by local governments. In a statement released on July 19th the Ministry of Finance of China revealed that in the first half of the calendar year national tax revenues had risen by 29.6 percent, when compared to the same period last year. According to data contained in the release, total tax revenues for the ... Read More

The government of China is set to instate a series of changes to the tax system, targeted at the country's lowest income earners , in order to improve the economic and financial situations of poorest individuals. On June 30th the standing committee of the National People's Congress concluded its four day bi-monthly meeting, during which legislators discussed the economic conditions and necessities of the country. At the meeting an amendment to the tax legislation was adopted, which changed the threshold at which workers ... Read More

Chinese taxpayers are facing a nationwide debate regarding the levels of personal taxation currently instated across the country. Now researchers have joined the fray, confirming that the individual tax rates are too high. The tax rate debates kicked off on April 25th, when the National People’s Congress published draft legislation to amend the personal income tax regulations, in order to lower the general tax rates faced by individuals and introduce a higher minimum threshold for personal income taxes. The draft has already received ... Read More

China, the world’s largest emitter of carbon dioxide, is expected to instate strong tax based disincentives for polluters. China's next five-year plan, which will be released in March, is expected to include several taxation measures aimed addressing the country's pollution problems and growing levels of environmental emissions. The new tax will replace the current set of environmental charges, which are considered to be ineffectively low, and poorly enforced by the government’s environmental departments. The form and rates of the environmental tax have ... Read More