China VAT rates update
- Aug 6, 2014 | Richard Asquith
As Chinese VAT reform progresses, below is an update of the major VAT and Business Tax rates in place today.
'Old' Chinese VAT rates on goods
Standard Rate: 17%
Reduced Rates: 13% and 6%
Exports: 17% or nil - see export credit scheme
Imports: 17% or 13%
Reformed VAT rates
Postal, Transport, Telecoms voice rates: 11%
IT, Technology, Consulting, Transport & logistics, broadcast, Telecoms data rates: 6%
Business Tax Rates
Awaiting switch to VAT programme.
Entertainment: 5% to 20%
Financial services, real estate and property: 5%
Cultural and sporting events/services: 3%
VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax
Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara