Aug 13, 2009 05:34 PM

Macroreview: Why Taxes Matter for Economic Growth

By Shen Minggao

By Shen Minggao

(.com.cn) To combat the recession, the Chinese government has decided to slash projected 2009 tax revenues by at least 500 billion yuan.

So far, the government has adjusted export tax rebate rates seven times and lowered taxes on real estate transactions, personal incomes and low-emission cars. It's also cut the securities transaction stamp tax, while raising taxes for tobacco products.

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