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China Value Added Tax revenues increase

  • Feb 13, 2012 | Richard Asquith
China Value Added Tax revenues increase

Chinese VAT take has increased again with the 2011 consumption tax revenues now accounting for 27% of the state revenues – a 15% rise on 2010.

The Ministry of Finance said that the rise was due to a general increase in the balance of consumption, as opposed to production and exports, within the economy.  It is anticipated to continue as domestic demand and imports increase.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara