China Clarifies VAT Thresholds and Tax Administration Rules for Individuals and Small Businesses

• The State Taxation Administration issued a notice clarifying VAT threshold standards and related management matters.
• The per-transaction VAT threshold for individuals is raised from 500 yuan to 1,000 yuan, with specific exceptions applying a monthly threshold of 100,000 yuan instead.
• The policy aims to balance tax efficiency and fairness, reducing individual tax burdens while preventing abuse of threshold standards.
• Small-scale taxpayers can flexibly choose to waive VAT exemptions and issue special VAT invoices for certain transactions without affecting other exemptions.

Source: news.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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