China officially enacts VAT law, ushering in a new era of tax governance

• China has enacted a value-added tax law that will become effective on 1 January 2026.
• Yet-to-be developed implementation rules and supporting regulations will be pivotal in translating this landmark legislation into operational reality.
• Businesses should stay tuned for these developments and consider proactively reviewing their current VAT processes to identify areas that may need adjustment under the new framework.

Source EY

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