It's being reported the Chinese government may be poised to completely replace this country's business tax with a value-added tax.
The expansion is included in the guidelines for reform priorities this year drafted by China's top economic regulator.
New plans recently released by the Chinese government include using the VAT in the construction, real estate, finance and the services sectors.
The Chinese government began replacing the business tax with a value-added tax in Shanghai back in 2012.
For more on the expansion of the VAT, we're joined on the line by Mike Bastin, director of China Business Center based in London.
