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Tax reform in China’s 5-year plan aims to protect budgets without crushing firms (www.scmp.com)

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As Beijing vows a stronger fiscal role to buttress an economy facing mounting risks, policymakers face a core dilemma in optimising China’s national development blueprint for the next half-decade: how to raise sufficient tax revenue without imposing an excessive burden on businesses. A detailed explanatory guide on China’s 15th five-year plan proposals for 2026 to 2030 said the period presents “new and higher demands for enhancing fiscal sustainability”, and the book warned of revenue growth...

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