Date
24 April 2018

New taxes in offing to boost local govt revenues, paper says

China is likely to impose some new taxes to boost local government revenue as it cuts the authorities’ reliance on land sales and debt-swollen infrastructure programs, the Economic Information Daily reported Monday, citing Li Daokui, director of Tsinghua University’s Center for China in the World Economy. The central government will roll out a series of reforms after the CPC Central Committee’s plenary session next month, including restrictions on government interference in market activities, Li said, without giving further details. Some experts said the taxes under consideration may include an environmental tax and a property-related tax. Others said trials of the existing property tax and resources tax will be expanded to more regions, according to the report.

– Contact HKEJ at [email protected]

KZ/AC/SK

 

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