China’s tax revenue growth has been declining since 2011 and dropped to 4.8 per cent last year, according to data from the State Administration of Taxation. Photo: Reuters

Accounting giants urge government to simplify VAT regime

‘We expect a further trimming in VAT tax brackets, probably into two or even one, to get in line with international tax legislation trends’: Robert Li, PWC tax partner in Shanghai

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China’s tax revenue growth has been declining since 2011 and dropped to 4.8 per cent last year, according to data from the State Administration of Taxation. Photo: Reuters
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