China is exempting VAT for small business with monthly sales of no more than 100,000 yuan from Jan. 1 to Dec. 31, the Ministry of Finance says in statement.
- Levy rate of VAT for small businesses which are currently levied at 3% will be reduced to 1%
Source Bloombergtax
Latest Posts in "China"
- Shell Companies Exploit Agricultural Tax Benefits, Issue Fraudulent Invoices Worth 30 Billion Yuan
- Chengdu Tax Bureau Investigates Sichuan Logistics Firm for VAT Fraud and Tax Evasion
- Pingtan Tax Bureau Cracks Down on Agricultural Tax Fraud and Fake VAT Invoice Scheme
- China’s New VAT Refund Policy for Taxpayers Begins September 2025
- China Expands Consumption Tax to Include More Ultra-Luxury and New Energy Vehicles
