On January 9, 2023 China announced an extension to the small business exemption from VAT. From January 1, 2023 to December 31, 2023, small-scale VAT taxpayers with monthly sales of less than 100,000 yuan (including the amount) will be exempted from VAT.
Source: SOVOS
Latest Posts in "China"
- China Imposes 13% VAT on Contraceptives to Address Declining Birth Rate and Economic Worries
- China Reinstates VAT on Contraceptives to Address Declining Birth Rates and Economic Slowdown
- Contraceptives to Be Subject to VAT in China Starting January 1, 2026
- China Uncovers Widespread VAT Evasion Schemes Involving Multiple Companies and Millions in Losses
- Tax Evasion Scandal: 49 Shell Companies and Fake Invoices Orchestrated by Tianjin Changze Finance
