President Trump plans to announce the most ambitious tax reform
plan since the Reagan era in the next few weeks, the White House
said earlier this month.
"We are closely watching and following corporate tax policy
adjustments in the United States and other countries," Zhang
Tianli, vice head of the ministry's department of tax policy,
told reporters on the sidelines of a briefing. "We are studying
plans to respond."
China's revised corporate tax law, which was approved by
parliament this week, kept the standard corporate tax rate at 25
percent although it gave firms more leeway to make profit
deductions when they make charitable donations, Zhang said.
Some Chinese and foreign-funded companies have complained about
rising business costs, including high tax burdens.
(Reporting by Kevin Yao; Editing by Jacqueline Wong)
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