VAT reform in China翻译.docVIP

VAT reform in China: impact on construction and real estate 中国增值税改革：对建筑和房地产的影响摘要: The article discusses the impact to the construction and real estate industries of the reform of value-added tax (VAT) in China. According to statistics from The China Tax Yearbook 2011, the construction and real estate sectors collectively contributed 51% of total business tax (BT) revenue in the country. There are proposals to shift the taxation of such industries from BT to VAT. A VAT of 11% is being proposed for construction services, as compared to the existing BT of 3%. It is said that the government will f