- China is using tax reverse charge to promote recycling in the industrial sector
- The State Taxation Administration will offer reverse charge for recycling companies by the end of April
- The new measure will allow resource recycling taxpayers to obtain VAT invoices more conveniently and deduct input tax
- Taxpayers with monthly sales of less than 100,000 yuan can enjoy a VAT exemption
- Taxpayers with sales exceeding 100,000 yuan can enjoy a VAT taxation deduction of 1 percent from the original 3 percent
Source: chinadaily.com.cn
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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