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 Geplaatst: 11-05-2018 08:38:27 Onderwerp: biggest tax cut |
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BEIJING Air Jordan 11 Pas Cher , May 3 (Xinhua) -- As the biggest tax cut in U.S. history has a domino effect on the rest of the world, China may be about to become more aggressive in cutting its taxes to stay competitive.
China has been trying for years to reduce business costs. May 1 is the one year anniversary of VAT reform, which replaced all business taxes with value-added tax, the most significant tax overhaul for two decades.
Tangible goods have been subject to VAT for some time, but the levy on services was imposed on the value of a firm's sales. Such a crude system resulted in a tax on tax. VAT avoids this www.cotation.org , as it is applied to the value added at each link in the production chain.
Since last year, taxes on construction, property, finance and consumer service sectors are on value-added, such as the difference between wholesale and final sales price for a retailer.
According to the State Administration of Taxation Basket Air Jordan Pas Cher , VAT reform cut roughly 680 billion yuan (100 billion U.S. dollars) of tax for business, with some 98 percent of them feeling the difference.
The reform is an attempt to reduce the burden on service industries, which have historically paid a disproportionate share.
In 2016, the number of newly-established businesses in the service sector increased by a brisk 25 percent, hiring 43.5 percent of the labor force Air Jordan Pas Cher Homme , compared with 36 percent in 2012.
Auto maker Geely has benefited from the reform. Li Shufu, chairman of Zhejiang Geely Holding Group, said the new tax scheme eased corporate payment by nearly 493 million yuan in 2016. That gives the company more leverage to increase spending on research.
To fulfill its promise of around 350 billion yuan tax cuts in 2017, government announced new measures in April. From July 1, value-added tax will be simplified Air Jordan Retro Pas Cher , small businesses will enjoy more income tax incentives, and pre-tax deductions for innovation-based tech companies will rise.
"We must cut non-tax charges along with cutting taxes to reduce the burden on enterprises and raise their competitiveness. The government is responsible for creating a sound environment to achieve these goals," Chinese Premier Li Keqiang said at a State Council meeting in April.
In late April, the U.S. government unveiled the biggest tax cut plan in U.S. history. It plans to reduce the number of income tax brackets and lower the tax on corporations from 35 percent to 15 percent.
While any change to U.S. taxes still needs to be approved by Congress, it could see a wave of companies move back to the United States from overseas.
Liu Xuezhi Air Jordan Pas Cher , an analyst with the Bank of Communications, said the U.S. tax overhaul is expected to reshuffle the global business environment. China needs more tax cuts to stay competitive.
Compared with the United States, China's tax policy is not aggressive enough, he added.
KATHMANDU, Feb. 20 (Xinhua) -- Ending the uncertainty Homme Air Jordan 6 Retro Low Blanche Infrared Acheter , Nepal has proposed holding 18th South Asian Association for Regional Cooperation(SAARC) Summit in Kathmandu in November this year.
SAARC, a regional association of eight South Asian countries, works for the regional development and cooperation.
Nepal tabled such proposal in the meeting of SAARC council of ministers held in Maldives on Thursday. Other members of SAARC are yet to give their agreement about holding such conference in Kathmandu which also hosts the regional organization's secretariat.
"We have proposed to organize the 18th SAARC Summit in Kathmandu in November," a national English Daily The Himalayan Times quoted Shankar Baigari, Foreign Secretary Homme Air Jordan 6 Retro Noir Infrared Achetez , who is in Maldives for ministerial meeting as saying.
Nepal will fix the exact of conferences after the consultations with the new government. SAARC summit was in uncertain as Nepal was passing through political instability. Nepal has previously hosted two SAARC Summit in 1987 and 2002.
China has an observer status in SAARC.
BEIJING, Jan.？7 (Xinhuanet) -- "Despicable Me," the animated comedy smash hit of 2013, is finally out here in China this Friday.
You can catch screenings in English for this 3D comedy extravaganza but also in Chinese where it is voiced by Deng Chao and Cindy Tian.
Interestingly, Cindy is the daughter of Tian Liang Homme Air Jordan 4 Retro Royalty Noir Or A Vendre , the former Chinese diving Olympics champion.
The pair caught public attention for participating in a TV program called "Where Are We Going, Dad".
The film is a sequel to the 2010 animate film "Despicable Me." It tells a story of Gru, a reformed super villain who is now on the side of the good guys.
Deng Chao says he enjoyed voicing the character. "The opportunity does not come easily. I like the story of the film. I like Gru's character. He's got a warm side. Strictly speaking he's not a good man. He has a lot of flaws, though this time he stands against the bad guys. He tries to impress the others and that makes him good. Also Gru falls in love in "Despicable Me 2." That's a big change in the second sequel. "
This was the second highest grossing film of last year worldwide. The film earned over $918 million making it the most profitable film in the 100 year history of Universal Studios.
"Despicable Me 2" is to hit Chinese IMAX screens on this Friday January 10th.
(Source: english.cri)
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RIO DE JANEIRO， Aug. 13 (Xinhua) -- Following are the results of shooting skeet men at the Rio Olympic Games here on Saturday:
1. Gabriele Rossetti， Italy
2. Marcus Svensson， Sweden
3. Abdullah Alrashidi， IOA
4. Mikola Milchev， Ukraine
5. Jesper Hansen， Denmark
6. Stefan Nilsson， Sweden
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CAIRO， Oct. 14 (Xinhua) -- The Egyptian armed forces said in a statement on Friday that it killed 15 terrorists after suspected Jihadists' attack on a checkpoint in North Sinai killed 12 security men.
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