China makes the right moves... since taxes divert productive savings to wasted efforts, misallocation and malinvestment, cutting taxes is doubly beneficial as the producers spend wisely and the government is starved of what they would waste anyway.
RMB100,000 is about US$16,000, quite livable in China.
Feel free to forward this by email to three of your friends.
BEIJING - Tax breaks have seen 37.1 billion yuan ($6 billion) slashed from on China small companies' tax bills in the first three quarters of this year, government data showed on Thursday.
Business income tax worth 7.46 billion yuan was reduced or scrapped, as companies with annual taxable business income below 100,000 yuan were eligible for a 50 percent reduction in their bills..
RMB100,000 is about US$16,000, quite livable in China.
Feel free to forward this by email to three of your friends.
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