China has been accelerating its fiscal and tax reforms in recent years. The central government is keen to establish a healthy fiscal and tax system to help optimise allocation of resources, establish a fair market playground, and ultimately achieve prosperity of the nation. Wang Jun, Minister of Taxation of the People's Republic of China, outlines how the government is achieving this.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year