- The Detailed Implementation Rules (DIR) of the PRC VAT Law were promulgated on 30 December 2025 and took effect on 1 January 2026 alongside the VAT Law.
- The DIR serve as the main administrative regulation supporting the VAT Law.
- The newsletter provides a comparative analysis of the DIR and previous VAT regulations.
- The DIR clarify the definition of taxable services and intangible assets, focusing more on the nature and substance of transactions.
Source: cms-lawnow.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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