Hainan, April 25 (FAP)-recently, Executive Vice Governor of Hainan Province Shen Danyang revealed to the media that the sales tax reform plan is expected to be launched by the end of the year. At that time, Hainan will consolidate the current taxes and fees such as value-added tax, consumption tax, vehicle purchase tax, urban maintenance and construction tax, and additional education fees, and levy a sales tax on the retail link of goods and services. "the sales tax rate needs to take into account the financial expenditure of Hainan Province, the local economic development, as well as the needs of international competition, and the sales tax rate should not be too high or too low." Experts interviewed said. However, experts have different views on how much the sales tax rate should be set. On the whole, it is more appropriate to set the tax rate at 7% to 11%. (Securities Times)