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Six Key Points Regarding China’s Tax Reforms in 2012

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According to the “Report on the Implementation of Central and Local Budgets for 2011 and on Draft Central and Local Budgets for 2012” presented to the National People’s Congress on March 5, China’s tax reforms in 2012 will focus on six specific types of taxes, namely property tax, value-added tax, resource tax, excise tax, environmental protection tax and urban construction and maintenance tax.

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