China’s SAT sets out the VAT Treatment of Prepaid cards in Announcement 53
China’s SAT sets out the VAT Treatment of Prepaid...
China Tax Alert - Issue 37, December 2016
This China Tax Alert discusses Announcement [2016] 53 which was released on 18 August 2016 by China’s State Administration of Taxation and sets out new Value Added Tax rules applicable to prepaid cards. The new rules took effect on 1 September 2016 and apply to sales of prepaid cards on or after 1 September 2016.
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