Country's tax climate to improve with more reductions expected

China's efforts to further reduce taxes, for businesses and individuals, will continually improve the country's tax environment if the significant progress made since 2017 is any indication, according to a World Bank Group report published on Tuesday.

China's tax climate has improved remarkably, particularly regarding the time needed to comply and the number of tax payments required, mainly because of technology-based enhancement of tax collection services, according to the report entitled "Paying Taxes 2019".

Experts expect more tax-and fee-reduction policies to come out soon, such as the reduction of social security fees for firms.