Lewis Lu, Lachlan Wolfers and Christopher Abbiss agree that the future of China’s financial services industry is at a critical juncture with the proposed reforms of indirect taxes. The choices to be made will highlight whether the government favours international competitiveness and expansion of the sector over the maintenance of existing tax revenues.
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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