15 March, 2019

China: further reduction in VAT

In early March, the Chinese Prime Minister announced the next reduction in the different VAT rates applicable in China.

Reported decline in value added tax (VAT) rates in China:

  • Manufacturing -3 points (16% -> 13%)
  • Construction and transport : -1 point (10% -> 9%)

This is the second time in less than a year that the Chinese government is lowering VAT rates (cf.China: VAT rate reduction as of May 1, 2018).

Source:
Editor: