Date
16 December 2017

Local govts urged to expand tax base, paper says

China’s local governments should expand their tax base to reduce their reliance on land sales, National Business Daily reported Tuesday, citing Jia Kang, director of the Institute for Fiscal Science of the Ministry of Finance. This could include resources tax and property tax which could go directly to local coffers, Jiang was quoted as saying. Meanwhile, risks from local government debt are generally under control but the likelihood of default is increasing, Jia was quoted as saying.

– Contact HKEJ at [email protected]

KZ/AC/RA

 

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