Chinese VC Firms Feel Relief As Beijing Says No Extra Tax Burden

China’s cabinet pledged that its sweeping tax reforms will not levy more taxes on venture capital firms in general. Chinese VCs are breathing a sigh of relief, because it was previously feared higher income tax will impact venture partners’ income. Beijing decided to "improve policies to ensure that the general tax burden of venture capital funds does not increase", said the state-owned Xinhua News Agency citing the decision made by attendees at the State Council’s executive meeting in Beijing yesterday. …

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