The Chinese authorities have ordered to improve the tax reporting system in duty free zones on Hainan, according to the ruling of the State Taxation Administration of China, regulating the payment of value added tax (VAT) and consumption tax by Hainan duty free shops. The regulation comes into force on November 1, 2020
Source: tass.com
Latest Posts in "China"
- China Clarifies VAT Deduction Rules for Goods, Services, Asset Restructuring, and Mixed-Rate Transactions
- China Announces New VAT Preferential Policies and Thresholds Effective January 1, 2026
- China Customs Releases 9% Import VAT Rate Product Code Table, Effective 2026
- China Issues Interim VAT Deduction Rules for Long-Term Assets Over 5 Million Yuan
- China Updates VAT and Consumption Tax Policies for Exported Goods and Cross-Border Services
