Businesses pay taxes on their net income. Net income, is not the same as revenue, however. To calculate the net income, you need to start with the firm's revenues and deduct the relevant expenses located on the income statement. The computation itself is basic, and requires no specialized knowledge; take care, however, to input the numbers correctly to avoid any errors.
Deng Xiaoping emerges as paramount leader of the People's Republic of China. Deng had been dropped from the leadership roles after the April 1976 demonstrations in Tiananmen Square. As noted above, in July 1977 he returned to all his official positions and in addition he was the chief of staff of the People's Liberation Army.
Front Page | In Depth | World | Asia-Pacific | China's Party Congress. China has become a major world economy. Deng Xiaoping set in train the transformation of China's economy when he announced a new open door policy in December 1978. Before then, China's main trading partners had been the USSR and its satellites. Deng realised that China needed Western technology and investment, and opened the door to foreign businesses who wanted to set up in China.