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China’s new VAT rates & rules – high level policies and general impacts across all industries
China’s new VAT rates & rules
China Tax Alert - Issue 9, March 2016
On 24 March 2016 China’s Ministry of Finance (MOF) and State Administration of Taxation (SAT) jointly issued Circular Caishui [2016] 36 which contains the Value Added Tax (VAT) rules applicable to the expansion of China’s VAT system to several key sectors such as real estate and construction, financial services, and lifestyle services, which take effect from 1 May 2016.
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