🇭🇰Hong Kong·Policy·15 Sept 2026·via South China Morning Post
Will China’s new local surtax provide relief for its regions’ fiscal headaches?
As even China’s wealthiest provinces continue to run deficits and rely on the central government to make ends meet, Beijing is loosening the reins on the country’s highly centralised fiscal system, with legislation for a new tax category – the local surtax – under way.
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