China unveils draft document of consumption tax law

The Ministry of Finance and State Taxation Administration on Dec 3 started soliciting public opinions on a draft document of consumption tax law.

Given conditions have matured for legislation, the move is conducive to building a modern fiscal system commensurate with socialist market economy, further opening-up, advancing the modernization of China's system and capacity for governance, said an online statement posted at the website of the Ministry of Finance.

Members of the public can submit their opinions about the draft document, which was written by the two agencies, before Jan 2, 2020, said the statement.