Chinese lawmakers on Friday voted to adopt a law on customs duties to promote high-level opening up. The law, which was passed at a session of the Standing Committee of the National People's Congress, the national legislature, will take effect on Dec. 1, 2024. It maintains the basic stability of the existing tariff system, with the overall tax burden level remaining unchanged. The law is of significant importance for advancing high-level opening up and fostering a market-oriented, law-based, and internationalized business environment, said Li Xuhong, a professor at the Beijing National Accounting Institute. The move marked another step in China's tax legislation. Out of the country's existing 18 tax categories, China has enacted laws on 13 of them. |
Pope to bring his call for ethical artificial intelligence to G7 summit in June in southern ItalyKemi Badenoch says archSurging auto insurance rates squeeze drivers, fuel inflationFlight attendant indicted in attempt to record teen girl in airplane bathroomNutritionists reveal the best FOODS to eat if you want to eradicate acne and get glowing skinBraves 2B Ozzie Albies activated from injured list ahead of series versus GuardiansBody identified as missing man in case that drew attention because officer was chargedBusinesses hindered by Baltimore bridge collapse should receive damages, court filing arguesSurging auto insurance rates squeeze drivers, fuel inflationI have £300,000 invested in a pension