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Tax data reveals US$43.3 bn VAT cut over 10 months

Since the implementation of three tax reduction measures involving value-added tax reform, the latter over the first 10 months has been reduced by 298 billion yuan (US$43.3 billion), according to the latest data released by the State Administration of Taxation, reported. The applicable 17% and 11% tax rates were reduced to 16% and 10% […]

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