NPC Committee Recommends New Taxes in 5-yr Plan

BEIJING, Aug. 25 -- The budget committee of China's National People's Congress Standing Committee recommended adding new taxes in the next five-year plan in order to push forward restructuring of the nation's economic growth and readjusting citizens' income distribution, the 21st Century Business Herald reported Tuesday.

According to the newspaper, the committee recommended enhancing management of the individual income tax and further strengthening supervision over incomes of enterprises' top executives.

The committee also recommended clearing up the government's non-taxable income and cutting some unnecessary taxes to lighten the burden on enterprises and taxpayers, the newspaper reported.