ALSO READChina dismisses Pak industries' concerns over cheap imports More than Rs. 1.37 Lakh Crore of tax evasion has been detected (Income Tax 69434; Customs 11405; Central Excise 13952; Service Tax 42727) among others Union Budget 2017-18 focuses on wider tax compliance, says ClearTax China denies plans to raise income tax 'Budget should reduce income tax, corporate tax to boost consumption'
The government will simplify the value-added tax rate system and cut value-added tax for agricultural products, natural gas to 11 percent from 13 percent, effective from July 1, 2017, according to the transcript posted on the microblog of the central government of China.
($1 = 6.8852 Chinese yuan)
(Reporting by Beijing Monitoring Desk; Editing by Jacqueline Wong)
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