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China's tax refunds, cuts to reach record 2.5 trillion yuan in 2022

Economy

China's tax refunds and cuts will reach a record high of 2.5 trillion yuan this year, and value-added tax (VAT) credit refunds will hit 1.5 trillion yuan to ease the burden on market entities, Vice Finance Minister Xu Hongcai said Wednesday.

China SCIOUpdated:  March 24, 2022
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