A woman works at a collective factory in Datong, Shanxi Province. Since 1949, China’s tax system was based on a Soviet-style economic model. Now that China is moving toward a socialist market economy, tax policy reforms have been enacted. PHOTO BY JOAN LEBOLD COHEN.
The Enterprise Income Tax (EIT) is a tax law that came into effect in China on 8 January 2008. The law replaces an earlier,