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China: VAT cut to assist vegetable wholesalers
China's Finance minister Xie Xuren, speaking to an economic forum in Beijing, said th government had plans to remove VAT on vegetable distribution. The aim is to remove tax burdens on vegetable wholesalers, though analysts have said that the move is unlikely to achieve very much.
Vegetable prices have been increasing for months. The latest information released by the Ministry of Commerce showed vegetable prices rising 2.6% between march 5th and March 11th, compared to the week previous.
Source: www.chinaeconomicreview.com
China's Finance minister Xie Xuren, speaking to an economic forum in Beijing, said th government had plans to remove VAT on vegetable distribution. The aim is to remove tax burdens on vegetable wholesalers, though analysts have said that the move is unlikely to achieve very much.
Vegetable prices have been increasing for months. The latest information released by the Ministry of Commerce showed vegetable prices rising 2.6% between march 5th and March 11th, compared to the week previous.
Source: www.chinaeconomicreview.com
Publication date: 3/20/2012
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