China to cut value-added tax on Apr 1st
Time：2019-03-15 Click：558
China will cut value-added tax (VAT) on April 1st and lower social security fees on May 1st, said Premier Li Keqiang in a news conference after the annual session of the National People's Congress (NPC) on Friday March 15th.
He said China needs further tax cuts and other strong measures to cope with downward pressure on the economy.
On Tuesday March 5th, Premier Li Keqiang said in his government work report that China will cut the VAT for the manufacturing sector by 3 percentage points to 13%. The VAT for transport and construction will also be cut from 10% to 9%.
