NPC deputies hear reports on draft property, corporate tax laws

Deputies of the National People's Congress (NPC) have been discussing reports on the drafts of the property and cooperate tax laws before their submission for the NPC annual session.

The drafts of the two laws are expected to be submitted to the fifth full session of the Tenth NPC for review, which will commence on March 5.

The draft property law provides protection for all kinds of ownership, while the draft corporate tax law is expected to set a unified income tax rate for both domestic and foreign companies.

The deputies also discussed a National Development and Reform Commission report on the implementation of the 2006 national economy and social development plan; a Ministry of Education report on rural compulsory education; a Ministry of Finance report on the implementation of the 2006 central budget; and a Ministry of Health report on medical and health system reform.

Reports by the Ministry of Science and Technology, the Ministry of Labor and Social Security, the Ministry of Agriculture, the Ministry of Culture, the State Environmental Protection Administration, the Supreme People's Court and the Supreme People's Procuratorate were also discussed.

The NPC Standing Committee allows deputies to hear and discuss in advance reports and drafts of important laws, which are scheduled to be tabled at the NPC full session, to ensure their right to know and help in their deliberations at the NPC annual session.

Source: Xinhua