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Regulations on New Consumption Taxes Issued
2006-04-02 10:00:16      Xinhua
China has issued a set of regulations on implementing the new consumption taxes.
Related Event: Consumption Tax Adjustment

The State Administration of Taxation has issued a set of regulations on implementing the new consumption taxes, a source with the administration said Saturday.

According to the regulations, taxpayers should go to local taxation organs to get registered again if their tax items have been changed.

The regulations help standardize tax collection of taxation organs, and on the other hand offer guidance for people to perform their taxation duties well, the source said.

On March 21, the Ministry of Finance and State Administration of Taxation issued a decree to readjust the taxation of some items of consumption goods.

Beginning April 1, different tax rates will be imposed on disposable wooden chopsticks, wooden floor panels, yachts, luxury watches and more oil-based products.

(Photo: Chinadaily)

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