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China considers to suspend or reduce interest tax on bank savings |
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14:02, June 28, 2007 |
China's top legislature Wednesday began discussing a draft bill that says the State Council is entrusted to suspend or reduce the eight-year-long tax on the interest on personal bank savings, in a bid to increase the profitof bank deposits for citizens.
The draft bill was submitted on Wednesday to the ongoing 28th session of the Standing Committee of the National People's Congress (NPC), or the top legislature, for deliberation.
Source: Xinhua
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