Nov. 25 – China’s State Administration of Tax has issued Circular Guoshuihan (2009) #625 clarifying that human hair is not considered an agricultural product and is therefore applicable to 17 percent VAT instead of a reduced rate 13 percent for agricultural products.
Asian human hair is extensively used in the wig making industry for both vanity and theatrical uses.
Dezan Shira & Associates provide a range of services for companies looking to undertake foreign direct investment into Asia, These include corporate establishment, accounting, tax, payroll, audit and due diligence. To learn more about the firm, please contact one of our specialists at china@dezshira.com, download our corporate brochure or visit at us www.dezshira.com
ENG
ESP
FR
DE
IT
(Not so) blessed are the wigmakers…