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China's Ministry of Finance (MOF) has launched surveys on reform pilots for replacing business tax with a value-added duty,tory burch outlet, the MOF said Monday.The ministry has set up 12 local monitoring offices in provinces and municipalities to follow the practice of the pilot scheme as well as the scheme's effects on local economies and enterprises.From early April to the end of 2013,coach outlet, the surveys will monitor at least 10 enterprises in each of the pilot industries,longchamp pas cher, the ministry said.On April 10,saclongchampdesigner, the State Council,christian louboutin, China's cabinet,tory burch flats, decided to expand its value-added tax (VAT) reform to the entire country from August 1. It hopes to complete the reform by the end of 2015.China introduced the reform in Shanghai last year to avoid double taxation. It was later expanded to another 11 regions,air max, including the municipalities of Beijing and Tianjin,air max 1 sale, and Shenzhen in South China's Guangdong Province.By February 1, the program had saved over 1 million taxpayers more than 40 billion yuan ($6.47 billion) in taxes,tory burch outlet, according to MOF data.Business tax refers to a levy on the gross revenue of a business,louboutin, while VAT refers to a tax levied on the difference between a commodity's price before taxes and its cost of production.Business tax must be paid by nine industries in China �?transport,prada handbags, construction,prada outlet, financial and insurance, postal and telecommunications,air max, cultural and sports,coach outlet store online, entertainment,prada outlet, service,longchamps, intangible asset transfer and real estate sales.
South Korea's trade commission decided to impose preliminary antidumping duties on Chinese plywood as the products made in China were judged to do damages to local manufacturers by selling at lower prices,air max 95 sale, the economy ministry said Thursday.The Korea Trade Commission (KTC) decided to tentatively charge punitive duties of 3.75 percent to 35.7 percent on Chinese plywood,coach outlet online, according to the Ministry of Knowledge Economy. Whether to impose the provisional duties will be decided by the Ministry of Strategy and Finance.The decision came five months after the trade commission began in November last year to take a preliminary probe into whether Chinese manufacturers undersold their products here. The final decision will be made after the KTC's formal investigation for up to five months.Domestic companies insisted their sales and profits worsened due to dumping activities by Chinese manufacturers,air jordan 11, the ministry said.South Korea's plywood market reached around 650 billion won ($58 million) as of 2012. Local firms took up 27 percent of market share, while Chinese companies accounted for 38 percent.
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