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General Tax Bureau issues new tax policy for clothing trade

12
Oct '06
Recently, General Tax Bureau has declared new rates payable by clothing traders.

The advertisement expense by clothing units can be deducted from 8 percent of turnover, which was 2 percent earlier and the balance can be deducted from next year's turnover.

According to this new policy, units can save RMB600, 000 of tax on a yearly turnover of RMB170 millions.

As clothing units tread from domestic into international markets, more funds are invested on advertisement and this new policy will support such clothing units. Most clothing units have hailed the new policy.

Fibre2fashion News Desk - China


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