利改税 Tax for Profits
[ 2009-08-25 18:49 ]
A reform measure requiring State-owned enterprises (SOEs) to pay taxes instead of submitting their profits to the administration.
The State Council introduced this reform in 1983 by levying a 55 percent income tax on medium and large SOEs rather than taking their profits. Other measures soon followed, creating a complete tax scheme to encourage competition.
This was one of the earliest steps taken to reform SOEs and establish a national tax system, showing that a mature market might be an effective way to improve industrial efficiency.
转会费 transfer fee
按揭拖欠 mortgage delinquency
（英语点津 陈丹妮 编辑）