BEIJING China made steady progress in fiscal legislation in 2019 to accelerate building a modern fiscal system and advance the modernization of China’s system and capacity for governance, the Ministry of Finance (MOF) said on Thursday. In 2019, the resource tax law and the amended law on vehicle and vessel tax law were reviewed and approved by China’s top legislature, the Standing Committee of the National People’s Congress, the MOF said in an online statement. The amended regulations for the implementation of the enterprise income tax law were promulgated by decree No. 714 of the State Council last year.—Xinhua
