The finance ministry said it would extend a value-added tax (VAT) cut for small taxpayers for an additional four years until the end of 2027, according to a statement.
The ministry would exempt value-added tax for small taxpayers with less than 100,000 yuan ($13,921.95) in monthly sales and cut the rate on taxable sales revenues to 1% for those normally eligible for a 3% rate, the statement said.
Source: reuters.com
Latest Posts in "China"
- China Issues New Regulation Detailing Implementation of Value-Added Tax Law Effective 2026
- Can Hainan’s Free Trade Port Rival Singapore or Dubai Amid Geopolitical and Economic Challenges?
- China Approves VAT Law Implementation, Set to Take Effect January 2026
- Hainan Launches Tariff-Free Customs Regime to Boost Trade and Strategic Economic Development
- China Launches Island-Wide Special Customs Zone in Hainan to Boost Free Trade
