China ends tax breaks for foreign investors – AP

state-local-taxes.jpg From AP, via MSNBC:

After giving a blanket tax break to all foreign investors for three decades lowering foreign companies tax rate to as low as 10% while Chinese companies pay as much as 33%, the Chinese government has decided to raise foreign companies tax rate to that of Chinese companies. The tax breaks attracted over $700 billion in investment which fueled the countries economy. Full Text.

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