China

China announces measures to simplify its VAT regime, and support small businesses during the COVID crisis...Continued

China has announced a range of Values Added Tax measures to assist businesses during the coronavirus pandemic. This includes cutting rates and reducing administration....Continued

China’s pilot for fapiao electronic Special Invoice for VAT invoices has been extended last week to a further 25 regions. 11 regions have already gone live in the pilot. It will go countrywide later i...Continued

Following successful electronic special fapiao invoice trials in the Ningbo city of Zhejiang province in September, subsequently expanded to Hangzhou city of Zhejiang and Shijiazhuang city of Hebei Oc...Continued

China has launched last month a series of electronic invoice trials to update the existing fapiaos paper-based government controlled system. Also known as the Golden Tax System. Initially, this will b...Continued

The Chinese Ministry of Finance has announced plans to harmonise the 6% City Maintenance & Construction and the 3% Construction Services levies with Chinese VAT...Continued

China has extended the VAT exemption on interest income from loans to small businesses. The aim is to provide continuing support to growth companies and entrepreneurs....Continued

The Chinese State Council has extended the existing pilot zones for e-commerce. This includes help for small and medium sized businesses. The pilots have been running for several years, aiming at boos...Continued

China has commenced consolidating its state and local VAT Golden Tax System (GTS). At present, taxpayers must taxes via the Golden System separately for the two tax regimes. It is part of a wider plan...Continued