In China taxes fall, level of social development grows

20.03.2012

China takes a ply for prompt acceleration of rates of development of the country that pushes a management of China to decrease in taxes and increase in expenses at social development.

On March, 18th, in Beijing there was the Forum on development of China where the Minister of Finance of China made a report and acquainted with the basic directions of a tax and financial policy of the country leaders which overall objective is creation of conditions for acceleration of rates of economic growth and increase of social stability of the population of the country.

According to the minister, in 2012 the government of China plans to spend a series of reductions of volumes of tax obligations of individual and corporate tax bearers. Simultaneously with these innovations the government of China intends to raise a minimum level of the taxation for the corporate tax and for the value-added tax.

Also in 2012 the management of China plans to continue actively its programs of social development which should promote a raising of consumer ability and increase of the general standard of well-being of the population, doing more accessible services of education, public health services and satisfying a growing demand for habitation in the country. 

Expert’s opinion

«It’s an open secret that China constantly expands its world presence. «All carry from China» is a bandied phrase. By the current moment the country plans to strengthen innovations, and by means of the internal reforms to accelerate economic development and economic re-structuring.
We only can observe the process of strengthening and the further development of China».

On the basis: http://newscontent.cctv.com

Lomakina Irina ( the director of Moscow office of Honest & Bright )