Source: CCTV.com

01-09-2007 11:06

Special Report:   2007 NPC & CPPCC

The Standing Committee of the National People's Congress announced on Monday that deputies to the National People's Congress (NPC) will soon discuss draft property and corporate income tax laws.

The two laws are aimed at protecting public and private property, and unifying the tax rates of foreign and Chinese companies. The discussion is scheduled to take place sometime before the annual session of the NPC in March. The deliberation will provide an opportunity for the nearly 3,000 deputies to fully understand the importance of the two drafts, and offer suggestions, and improvements.

The drafts of the two laws are expected to be debated and endorsed at the fifth full session of the Tenth NPC scheduled in March. The draft property law provides protection for all kinds of ownership, while the draft corporate income tax law is expected to set a unified income tax rate for both domestic and foreign companies at 25 percent.

 

Editor:Du Xiaodan