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China’s Recent Policies for Deepening the VAT Reform

Value-added tax and taxation concept

To further reduce taxpayers’ VAT burden, in 20 March 2019, the Ministry of Finance, State Administration of Taxation and General Administration of Customs jointly issued “Administration and the General Administration of Customs” (Hereinafter referred to as Announcement [2019] No. 39.) The specific VAT reduction policies are summarized as below: VAT Rates for General Taxpayers For […]