China says will ensure tax burden for companies doesn’t rise

BEIJING (Reuters) – China will study how to lower the social security tax rate to ensure the tax burden for all companies – including venture capital firms – does not increase, the state cabinet was cited by state radio as saying on Thursday.

China’s tax bureau will take over social security collection from the Social Security Bureau in 2019, a move seen enforcing greater compliance by companies as the government frets over an aging population and rising pension deficit.

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