China has tightened tax incentives and raised preferential rates in several sectors as part of a broader push to generate more government funds, after experiencing a sharp drop in fiscal revenues amid an economic slowdown and persistent deflationary pressure.
The Ministry of Finance and State Taxation Administration released a slew of detailed provisions for the country’s new value-added tax (VAT) law over the weekend, which included raising the rate applied to telecommunication services from 6…
China pushes to shore up government finances with tax rises on several sectors
