VAT Reform Implementations-Mar.2019

Issued by General Administration of Customs, Ministry of Finance, State Taxiation Administration 1. Where a general taxpayer of VAT (hereinafter referred to as a taxpayer) conducts VAT taxable sales or imports goods, the original 16% tax rate shall be adjusted to 13%; where the original 10% tax rate is applied, the tax rate shall be adjusted to 9%. 2. When taxpayers purchase agricultural products, the original deduction rate of 10% shall be adjusted to 9%. Taxpayers who purchase agricultural products for the production or commissioned processing of goods with a 13% tax rate shall calculate the input tax according toRead More →

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