ntax policies in China 🇨🇳

China has a comprehensive tax system that supports its economic development and social welfare. The basic tax policies include value-added tax (VAT) 🍴, which is one of the main sources of revenue for the government. VAT is levied on goods and services at each stage of production and distribution. Another important policy is the enterprise income tax (EIT) 💼, designed to encourage businesses to innovate and expand. Small and micro enterprises enjoy preferential tax rates to stimulate their growth.

Personal income tax (PIT) 💸 is also a key component, aiming to redistribute wealth and ensure fair taxation among citizens. Recently, China has been optimizing its tax structure by reducing certain taxes and fees to support industries affected by global events. Additionally, environmental protection taxes 🌱 have been introduced to promote sustainable development and reduce pollution. These policies reflect China's commitment to balancing economic growth with social equity and environmental protection.