Beijing wants a fairer tax system to help reach its goal of “common prosperity”. Photo: Getty Images
Beijing wants a fairer tax system to help reach its goal of “common prosperity”. Photo: Getty Images

China’s tax evaders to be ‘severely punished’ as Beijing pushes for ‘common prosperity’

  • Authorities will carry out more spot inspections and give greater exposure to tax crimes to help compliance
  • China’s small firms, individually-owned businesses and manufacturers are also in line for tax cuts in 2022

Topic |   Financial regulation
Beijing wants a fairer tax system to help reach its goal of “common prosperity”. Photo: Getty Images
Beijing wants a fairer tax system to help reach its goal of “common prosperity”. Photo: Getty Images
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