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China Tax

China Just Tweaked A Tax Law That Will Unleash Its Super Rich

by taxnick on June 20, 2011

In a move to increase domestic spending, the Chinese Finance Ministry plans to significantly lower duties on luxury goods like watches, cosmetics, clothing and shoes.
Via China Daily:
Owing to hefty import taxes, prices of 20 luxury brands of watches, suitcases, clothes, liquor and consumer electronics in the Chinese mainland are 45 percent higher than those in [...]

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China Plans Tax Change to Address Inequality

by taxnick on April 21, 2011

China plans to cut taxes for people with lower incomes and raise them somewhat for the rich under new legislation expected to pass shortly, one effort to address a widening income gap thought to threaten the country’s social stability.
Proposed revisions to the tax code reviewed by the legislature on Wednesday would raise the lowest level [...]

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