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The State Council has sent a signal.....>

CHINA PRESS
CHINA PRESS: The State Council has sent a signal that changes to the local
government tax system have begun, and more are on the way, the Securities Daily
reported Friday. The council has determined that an environmental protection tax
that begins Jan. 1 will be fully included in local governments' income. In the
future, some consumption taxes might be allocated to local governments, which
will also benefit from the establishment of real estate taxes, the newspaper
said, citing unidentified people with knowledge of the tax plans. (Securities
Journal)

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