An employee of the Industrial and Commercial Bank of China Ltd (ICBC) counts money at one of the bank's branches at the Shanghai Free Trade Zone in Pudong district, in Shanghai on September 24, 2014. Photo: Reuters

China cuts taxes, simplifies code to kick start a stalling economy, stem capital flight to America

China’s top tax rate of 45 per cent, and its myriad of fees and tariffs had been blamed for driving home grown companies to set up shop overseas

Topic |   China corporate tax

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An employee of the Industrial and Commercial Bank of China Ltd (ICBC) counts money at one of the bank's branches at the Shanghai Free Trade Zone in Pudong district, in Shanghai on September 24, 2014. Photo: Reuters
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