China Extends Preferential VAT Policies for Small-Scale Taxpayers
16 April 2021
On 31 March, the State Taxation Administration issued an announcement concerning the exemption of small-scale taxpayers from the collection of value-added tax (VAT) (Announcement No. 5 ). Small-scale taxpayers who engage in VAT taxable sales and whose total monthly sales of goods, services and intangible assets (not including real estate) do not exceed RMB150,000 are exempt from VAT. The announcement took effect on 1 April 2021.
Source: State Taxation Administration
- Mainland China