China to expand corporate tax cuts for hi-tech services firms nationwide

BEIJING (Reuters) – China’s finance ministry said on Friday that it will expand corporate tax rate cuts for high tech services firms nationwide, adding that the tax rate would be reduced to 15 percent, effective January 1, 2017.

China rolled out its trial tax cut programs for high tech services firms in 21 major cities in 2014, in an effort to boost its overall competitiveness.

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