Premier of the State Council Wen Jiabao presided over a recent executive meeting of the State Council, and decided to implement the VAT transformation reform throughout the country, and examined and in principle passed the "Interim Regulations of the People's Republic of China on Value Added Tax (Revision Draft)", the "Interim Regulations of the People's Republic of China on Consumption Tax (Revision Draft)" and the "Interim Regulations of the People's Republic of China on Business Tax (Revision Draft)". The meeting pointed out that, with the approval of the State Council, since July 1, 2004, parts of areas such as Northeast and Central China have successively carried out VAT transformation reform pilots, and achieved expected results. In order to expand domestic demand and reduce enterprise equipment investment tax burden...