27 February 2020

Tax reform may include telecom, lifestyle services, paper says

A trial scheme to replace business tax with value-added tax (VAT) may be extended to the telecom and lifestyle services sectors starting next year, Economic Information Daily reported Friday, citing several unnamed sources. The State Council is expected to decide the next step at a meeting this month, a source close to tax authorities was quoted as saying. In principle, the scheme should include the service industry first, followed by the lifestyle sector, the report said, citing Wang Jun, chief of the State Administration of Taxation.

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