China Briefing News

Beijing Likely to Commence VAT Reform in August


Jul. 10 – Earlier this year, following the commencement of the business tax (BT) to value-added tax (VAT) conversion pilot reform program in Shanghai, the Beijing municipal government officially submitted its application to the Ministry of Finance (MOF) and State Administration of Taxation (SAT) to implement the pilot program in Beijing. Since then, enterprises have […]

China Announces VAT Pilot Project for Agricultural Products


Starting from July 1, 2012, VAT general taxpayers who purchase agricultural products as raw materials for the production and sales of liquid milk and dairy products, liquor and ethyl alcohol, or vegetable oil, will be able to deduct input VAT.

Clarification Regarding China’s VAT Treatment on Sales of Used Fixed Assets


SAT Announcement [2012] No.1 specifies two situations under which the sales of used fixed assets are subject to VAT at 4 percent with a 50 percent reduction.

China’s SAT Issues Measures for Claiming Zero-Rated VAT


Announcement No. 13 sets out the application procedures and documentation requirements for claiming zero-rated VAT exemption, offset and refund for taxable services under the VAT pilot program.

China Total Tax Burden Second Highest in World


Chinese capitalism seems long gone when viewed against actual fiscal policies Sept. 26 – China’s tax burden is the second highest globally, beaten only by France, the 2009 Tax Misery Report by Forbes has suggested. Although relatively old data, the report has not previously gained much attention. However, as China has since then raised minimum […]

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