A new report says China should gradually reduce the corporate income tax rate to 20 per cent. Photo: Reuters

China should slash business tax rates if it wants to compete with the United States, study says

  • Report sponsored by industry ministry recommends cutting corporate income tax rate to 20 per cent to bring it in line with US
  • VAT should also be reduced by a further three points following similar cut in April
Topic |   China economy

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A new report says China should gradually reduce the corporate income tax rate to 20 per cent. Photo: Reuters
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Frank Tang

Frank Tang

Frank Tang joined the SCMP in 2016 after a decade of China economy coverage and government policy analysis.