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Article: China considers putting consumption tax on more luxury items
- Article from:
- Xinhua News Agency
- Article date:
- November 15, 2006
CopyrightCopyright 2006 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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China considers putting consumption tax on more luxury items
BEIJING, Nov. 15 (Xinhua) -- The Chinese government is considering
expanding the list of luxury items subject to a special "consumption
tax", says Wang Li, deputy director of the State Administration of
Taxation (SAT).
Wang told the first annual forum on China's fiscal reform here
that tax reform should progress with personal income tax, property
tax and consumption tax to be adjusted tp strengthen the role of
taxation in reducing poverty.
He did not disclose the exact timetable for the adjustment of
consumption tax on more luxury items.
A recent survey by the Horizon Research Consultancy Group showed
that 40 percent of ...