China Keeps Corporate Tax at 25% but May Lower for CompetitivenessPosted: February 26, 2017
SCMP says in its report “Chinese legislature keeps corporate tax rate unchanged at 25 per cent” that China keeps its corporate tax rate unchanged at 25% but will watch closely changes in other countries, especially the United States, to be competitive.
It is certainly not easy for China to reduce corporate tax. SCMP quotes Han Baojiang, head of the economic department at the Central Party School, as saying, “The room to cut taxes this year is not big considering China’s slow fiscal revenue growth and large rise of expenditures, especially in social welfare.”
Comment by Chan Kai Yee on SCMP’s report, full text of which can be found at http://www.scmp.com/news/china/article/2074043/chinese-legislature-keeps-corporate-tax-rate-unchanged-25-cent.