China raises VAT registration threshold October 2015
- Sep 18, 2014 | Richard Asquith
China is to raise the VAT and Business Tax threshold from Yuan 20,000 to Yuan 30,000 from 1 October 2015.
The announcement was made this week by the State Council, and will be confirmed by the State Administration of Taxation shortly.
The threshold is the annual amount of sales below which businesses or individuals do not have to register and charge Chinese VAT. The Chinese VAT threshold was introduced in August 2013.
The Chinese VAT reform program started in 2012, which includes allowing simpler input VAT deductions to help reduce the instances of double taxation.