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MNI BRIEF: China To Push Ahead With Property Tax Reform: Offcl

China will continue with a gradual push ahead of new legislation and reform of property taxes, said Wang Jianfan, the director of Taxation Department at the Ministry of Finance, on Wednesday at a press conference held by Information Office of the State Council.

Wang said China will gradually increase the proportion of direct taxes with income and property tax as the main tools. The proportion of revenue contributed from direct taxes has increased to 34.9% in 2020 from 28.4% in 2011, according to Wang.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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