Lewis Lu of KPMG China discusses the first draft of the VAT law released by the National People’s Congress.
On December 27 2022, the draft Chinese VAT law (the Draft) was submitted to the National People’s Congress (NPC) for the first round of review. As part of the legislative process, the Draft was also open for public consultation until January 28 2023. It is expected that the Draft will be approved by the NPC in the course of 2023.
Source: internationaltaxreview.com
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