Reformof tax systemwith B2V will result in winners and losers

Editor's note: China Daily is publishing a series of stories on the impact of the country's fiscal system reform. In the last issue we discussed how the central government will shoulder larger responsibilities. The second article discusses how the burden may also fall on companies, which will face heavier tax payments.

The nation's top leadership aims to establish a modern fiscal system by 2020, and tax reform is a key part of that drive. But some companies could face higher costs as a result, experts said.

Speaking to the Xinhua News Agency, Finance Minister Lou Jiwei said reform would focus on six categories of tax: value-added, consumption, resource, environmental, property and personal income.