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Baiyin tax bureau to replace business tax with value-added tax

Updated: 2016-04-20
By Li Xiaoxu ( chinadaily.com.cn )

Baiyin tax bureau to replace business tax with value-added tax
Tax officials explain the new policy to taxpayers. [Photo/baiyin.cn]

Pingchuan district's tax bureau in Baiyin city, Gansu province will carry out a new national policy– replacing business tax with value-added tax from May 1, aiming to eliminate double taxation and alleviate the tax burden on enterprises.

The tax bureau has handed over information on 1,100 taxpayers including 150 enterprises and 950 self-employed businesspeople to the state tax departments.

Tax personnel also made door-to-door surveys in order to publicize the new tax policy and ensure the accuracy of the taxpayers' information.

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The central authority has decided to expand the pilot program of replacing business tax with value-added tax, which began four years ago, to the remaining four sectors of property, construction, finance and consumer services starting May 1.

The tax reform-completely replacing business tax with VAT-will involve at least 10 million companies in China, which jointly contribute 80 percent of the country's total business tax revenue.

http://www.chinadaily.com.cn/opinion/2016-04/06/content_24305924.htm

 

 

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