- New VAT policies and management measures were jointly issued by the Ministry of Finance and State Taxation Administration, effective January 1, 2026.
- Adjustments to VAT declaration include expanding reporting categories, optimizing deduction items, and clarifying exemption reporting for small-scale taxpayers.
- A new requirement for oil and gas enterprises to prepay VAT is introduced, with an added “production and living services” item in the prepayment form.
- The changes take effect from February 1, 2026.
Source: lexiscn.com
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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