Wednesday, October 7, 2009

Budget does not introduce a new consumption tax

Asked whether the Government will be launched in the new Budget, excise duty, Kongling Long responded: "No, because the national economy is still below par, all things have prices."

He explained that wish to implement the consumption tax, the Government has at least 18 months time to prepare and enable all walks of life to adapt.

"For example, government agencies, especially the customs bureau's computer system needs to be upgraded, and all enterprises also need to replace the accounting computer systems, especially in taxation and tax-related mechanisms."

However, he believes that in the new Budget, the Government may announce when the introduction of consumption tax.

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