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Beijing reduces local government role in export tax

Beijing has changed course on an export tax policy that was forcing local governments to pay a large part of a sales tax rebate to companies exporting locally-made products, a system that often left local governments disgruntled and exporters without reimbursement, the Standard of Hong Kong reported, citing an Ernst & Young report. Under the new policy local governments will pay only 7.5% of the rebate.

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