26 Mar

China: VAT Rate Reduction

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The Chinese authorities have confirmed they will reduce the rate of VAT on the manufacturing industry from the current 16% down to 13% as of 1 April 2019.

For the transportation and construction industries, VAT will be reduced to 9% from 10% to help reduce tax burdens on the manufacturing sector and small businesses. The 6% value-added tax for other industries will remain unchanged.

 

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This story was originally posted on VAT Life, Quipsound’s quarterly newsletter in association with Essentia Global Services. Click here to see the story and more on VAT Life.

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