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

China should cut business tax rates to help its manufacturers better compete with foreign firms and offset the impact of the trade war, according to a government-sponsored study.Released on Sunday at the 2019 Sanya Forum in Hainan province, the report by the SEEC Research Institute in Beijing said the government should seek to gradually reduce the corporate income tax rate to 20 per cent from the current 25 per cent, and cut the value added tax rate by a further three points to 10 per cent…
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