China’s new VAT rates & rules – Lifestyle Services impacts
China’s VAT rates & rules – Lifestyle Services impacts
China Tax Alert - Issue 11, March 2016
On 24 March 2016 China’s Ministry of Finance (MOF) and State Administration of Taxation (SAT) jointly issued Circular Caishui  36 (“Circular 36”) which contains the Value Added Tax (VAT) rules applicable to the industries which are transitioning from Business Tax (BT) to VAT with effect from 1 May 2016.
In KPMG China Tax Alert Issue 9 we examine the general impact of the new rules across all industries. However, in this KPMG China Alert 11, we examine the impact specifically for the lifestyle services sector.