Home / Knowledge / News / Govt contemplates reducing business tax
Govt contemplates reducing business tax
10
Dec '08
China has witnessed rapid growth resulting in a booming economy in the past few years and was and considered an export power house. But since the unfolding of the economic crisis, exports have begun to be affected and are witnessing a slowdown in the extremes.

The government on its part is trying to boost by coming out with favourable measures including increasing duty drawback rebates twice in the last few months and also trying to ease credit flow to the enterprises.

Now there are reports emanating that the government is contemplating lowering business taxes by 1 percent as part of its overall efforts. Business tax in China varies from 3-20 percent and netted the government US $131 billion in revenue in 2007.

This good news has come along with other news reported in the last week of the Central Bank also taking measures to improve the capital adequacy ratio of banks so that they may extend more credit in these difficult times.

The government in the past had also announced plans to lower export tariffs on agricultural goods by up to 30 per cent.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search