In this issue of China Briefing, we take a detailed look at China's seemingly complex value-added tax system. China's VAT regime contributes a significant portion of the country's annual tax revenues and is an important part of the government's tax system. At the start of 2009, the central government rolled out a national VAT reform policy that had previously been piloted in several select regions of the country. The new reform policy moved China's VAT system from production-based to consumption-based and changed many of the tax benefits companies in China enjoy. Our feature article this month explains China's VAT system, takes a look at the rates and calculations for general taxpayers and small income tax payers, examines export tax rebates, and reviews the new VAT reform measures.
We also draw near to the conclusion of our regular monthly series on second- and third-tier cities in China, focusing this time on Anshan, Hangzhou, Zhuhai, Manzhouli and Xi'an.
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