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China Value Added Tax revenues increase

  • VAT
  • 14 February 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 VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.