China will further reform its taxation system in 2010, including plan to draft and release new guidelines on resource tax reform and a gradual implementation of property tax reform, according to a statement posted on the government's website.
The statement, a guide to China's 2010 economic reform strategy, was drafted by the National Development and Reform Commission, the country's top economic planner, and approved by the State Council.
China has been considering a revamp of the resource tax structure for several years and recently introduced a 5 percent resource tax on crude oil and natural gas sales in the Xinjiang Uygur autonomous region that becomes effective on June 1.
