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VAT Rates Reduced Across China as of May 2018

VAT rates across China are to fall as of 1 May 2018. The headline changes, as jointly announced by the Ministry of Finance and the State Administration of Taxation, will see the 17% VAT currently payable on the sale of goods fall to 16%, while the 11% VAT currently payable on the import of goods will fall to 10%.

For further details (in Chinese), please visit the following link:

Circular of the Ministry of Finance and State Administration of Taxation on Adjustment of VAT Rates

Content provided by Picture: HKTDC Research
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