China’s Ministry of Finance and State Administration of Taxation have jointly issued Announcement No. 15 of 24 March 2022, which provides for the VAT exemption for small-scale taxpayers announced in the Government Work Report delivered earlier in the month. This includes that qualifying small-scale taxpayers, normally subject to a 3% VAT rate, are exempted from VAT for the period 1 April 2022 to 31 December 2022. Announcement No. 15 also extends to 31 March 2022 the 1% VAT rate for small-scale taxpayers that was originally provided by Announcement No. 13 of 2020 and subsequently extended to 31 December 2022 by Announcement No. 7 of 2021.
Source Orbitax
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