China reportedly to cut taxes in 2010 to help economy

[cnredd]

China reportedly to cut taxes in 2010 to help economy

China will unveil a package of business-tax reductions next year to help the economy, according to news reports Thursday.

While China's State Administration of Taxation plans to raise the minimum income-tax threshold, it will also lower taxes on small and medium-sized enterprises, the reports said, citing an anonymously sourced account in the Chinese 21st Century Business Herald newspaper.

The tax authority also plans to lower taxes on the service industry and high-tech companies, the reports said.

In a related move, Chinese officials also plan to continue export-tax rebates in 2010, Dow Jones Newswires reported, citing a Ministry of Commerce statement.

Actual Communists have a better grasp of capitalism than our own American administration...

[saltwn]

Originally Posted by cnredd

China reportedly to cut taxes in 2010 to help economy

Actual Communists have a better grasp of capitalism than our own American administration...

The fat cats there see the fat cats here made a killing in the last thirty years

While China's State Administration of Taxation plans to raise the minimum income-tax threshold, it will also lower taxes on small and medium-sized enterprises

but unlike us they don't worry about the regular citizen. Cause after all they have the US consumer to buy their products, so all their hordes can die and they won't blink an eye.
China is a dictatorship whether they call it communist or capitalist. A few elite have modernity and luxury while the masses don't have running water. They might as well have an emperor again for all they were taken over by unbridled greed.