VAT

THAILAND: Overseas-Based Online Businesses Set to Become VAT-Liable

22 June 2020

Overseas-based e-commerce businesses and digital service providers are set to become liable for value-added tax (VAT) on all income derived from the country. More

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SAUDI ARABIA: Increased VAT and Customs Duties to Impact Imports

10 June 2020

The Saudi Arabian government has announced customs duties increases on about 3,000 goods, effective 10 June 2020. The rate hike, revealed on 27 May 2020, follows an announcement earlier in the month that value added tax (VAT) will also triple, starting 1 July 2020. More

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China Cuts VAT on Used Car Dealership

23 April 2020

In order to promote car consumption, the Ministry of Finance and the State Taxation Administration recently announced that taxpayers engaged in used car dealership who sell the used cars they purchased will be levied value-added tax (VAT) at a further reduced rate under the simplified tax method. More

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VIETNAM: Covid-19 Support Measures Announced for Business Community

23 April 2020

A series of measures aimed at supporting the business community in the face of the ongoing coronavirus outbreak have been announced by the government. More

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INDONESIA: Corporate Income Tax Cut Advanced in Bid to Curb Covid-19 Impact

09 April 2020

The move to cut Corporate Income Tax (CIT) from 25% to 22%, previously scheduled for 2021, is now to be implemented immediately as the country looks to mitigate the economic consequences of the coronavirus. More

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Qualified R&D Institutions Eligible for Full VAT Refund on Purchase of Domestically-Produced Equipment

07 April 2020

The State Taxation Administration (STA) recently issued an announcement on measures for the refund of value-added tax on the purchase of domestically-produced equipment by research and development (R&D) institutions (Announcement No. 6 [2020]). More

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China Offers Small Businesses VAT Concessions to Help Them Resume Production

10 March 2020

Small-scale VAT taxpayers in Hubei are now exempt from value-added tax (VAT) from 1 March to 31 May 2020 if their tax rate is set at 3%. More

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Bunkering Oil on International Navigation Vessels Eligible for Export VAT Refund

26 February 2020

On 1 February, China implemented an export value-added tax (VAT) refund policy for bunkering oil (HS code 27101922) on international navigation ships in its coastal ports. More

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Authorities Clarify VAT on Renting of State-owned Farmland and Other VAT Matters

24 February 2020

Under recently amended rules, mainland taxpayers who rent out state-owned farmland to agricultural producers for agricultural production will be exempt from VAT. More

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China Business Tax Completely Scrapped Under Extended VAT Regime

12 December 2017

As of 1 December this year, companies in the service sector are no longer obliged to pay business tax. Instead, however, all such businesses are now liable under an extended VAT regime, which covers any business entity / individual engaged in the sale of services, intangible assets or immovable properties. More

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