Wang Xiangwei
Wang Xiangwei

SCMP Columnist

China Briefing by Wang Xiangwei

Why China should slash taxes just as the US seeks a global minimum rate for corporations

  • Washington’s push for world economies to sign up to a minimum corporate tax level of 15 per cent offers Beijing a chance to reform its own tax regime by cutting corporate and personal income taxes and streamlining VAT and social security contributions
  • Doing so could help China retain multinationals spooked by the trade war and rising business costs, attract more FDI, and bolster the country’s competitive edge in global supply chains