business tax; turnover tax
Tone colorsmāmámǎmàma
Meanings
1 sense · 3 examplesnoun
business tax; turnover tax
A type of indirect tax levied on the gross revenue or turnover of businesses. In China's tax system, this was largely replaced by VAT (增值税) in 2016, but the term remains in use for specific categories.
Zhè这
jiā家
gōng公
sī司
měi每
nián年
yào要
jiǎo缴
nà纳
dà大
liàng量
de的
yíng营
yè业
shuì税
。
This company has to pay a large amount of business tax every year.
Zhèng政
fǔ府
jiàng降
dī低
le了
xiǎo小
xíng型
qǐ企
yè业
de的
yíng营
yè业
shuì税
shuì税
lǜ率
。
The government reduced the business tax rate for small enterprises.
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Yíng营
yè业
shuì税
shì是
dì地
fāng方
cái财
zhèng政
shōu收
rù入
de的
zhòng重
yào要
lái来
yuán源
zhī之
yī一
。
Business tax is one of the important sources of local fiscal revenue.