VAT Reform Plan-Mar.2019

State Council promulgated the VAT reform plan on 20th March The value-added tax rate for industries such as manufacturing industry will be reduced from 17% to 16%, and the value-added tax rate for industries such as transportation, construction, basic telecommunications services and agricultural products will be reduced from 11% to 10%.            Unify the standard of small-scale VAT taxpayers. The annual sales Standard of small-scale taxpayers in industrial and commercial enterprises will be raised from 500,000 yuan and 800,000 yuan to 5,000,000 yuan, and enterprises registered as general taxpayers will be allowed to register as small-scale taxpayers within a certain periodRead More →

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