Reporters' Log

China to slash 500b yuan tax burdens

By Zheng Lifei (chinadaily.com.cn)
Updated: 2009-03-05 14:08

The proposed tax reform is expected to cut up to 500 billion yuan ($73.09 billion) in taxes on Chinese enterprises and individuals, Premier Wen Jiabao said in a work report to parliament's annual session this morning.

"We will carry out structural tax reduction and promote reform of taxes and fees, we will reduce tax burdens on enterprises and individuals by a variety of means such as tax cuts, rebates and exemptions," Wen said in the report.

The government will carry out a sweeping value-added tax reform and will remove or suspend 100 administrative fees, Wen said.

Central Economic Work Conference

• Interest Rate Cut
• 30 Years of Reforms
• Coping with Financial Crisis
• Housing in China
• 2008 Tsinghua Management Global Forum
• more

Hot Words

• 政府注資 pump priming
• 軟環境 soft environment
• 糧食最低收購價 crops' minimum purchase prices

• 保八 Eight Percent Protection
• 以人為本 Put People First
• 農民企業家 Farmer-turned-entrepreneur
• 窗口指導 window guidance
• 下崗再就業 Re-employment after being laid off
• more

From Foreign Press

• German media give full coverage to Premier's report
• Overseas press praise China's 8% economic growth
• German media: Economy tops agenda at NPC session
• From the foreign press
• World media keeps close watch on 'two sessions'
• more

Letters

• Corruption top issue for public
• China adopts Food Safety Law
• China's economic growth in 2009
• more