VAT Archives | Uni-World Services CO.LTD

VAT reform brings benefits to China’s macro economy

Replacing the business tax with value-added tax (VAT), which helped reduce tax burdens on enterprises and industries, has brought many positive effects to China’s macro economy, according to Fan Yong, a professor at the School of Finance and Tax at Central University of Finance and Economics. Under the reform, VAT covered all services and products, [...]

China expands VAT pilot program to all industries

China's financial and taxation authorities announced it would expand its value-added tax (VAT) pilot program to all industries on Thursday in order to deepen the country's fiscal and taxation reform. Starting from May 1, the replacement of business tax with VAT will be extended to construction, real estate, finance and consumer services, to ensure that [...]