China looks to overhaul individual and corporate tax

Government guidelines to make the wealthy pay more and improve income distribution in China are ushering in tax reform. By 2015, all business tax is expected to be replaced by value-added tax. Also, foreigners receiving dividends and bonuses from foreign-invested enterprises will no longer be exempt from some forms of investment tax.

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South China Morning Post (Hong Kong) (free registration) · Tax-News.com