China’s State Council has recently announced that the Value Added Tax (VAT) pilot program will be implemented nationwide from August 1, 2013. The pilot program is currently in force only in a few cities and provinces.
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Chinese Government Extends the VAT Nationally: International Tax Advisory Team
1. Chinese Government Extends the VAT Nationally: Nair & Co.’s International Tax Advisory
Team
(Sunnyvale, CA) - China’s State Council has recently announced that the Value Added Tax (VAT) pilot program will
be implemented nationwide from August 1, 2013. The pilot program is currently in force only in a few cities and
provinces.
This move will benefit certain cities like Chongqing, Chengdu, Qingdao and Kunming, which have strong and newly
emerging services sectors such as information technology industries and research and development centers.
It will be beneficial to Multinationals and larger businesses as the complexity of calculating VAT in some locations,
and Business Tax (BT) in others will be done away with, says Nair & Co.’s International Tax Advisory Team.
The major Highlights of the VAT program:
The first stage of the expansion across China will cover the transportation and modern services sector.
In future, the VAT program would embrace the production, broadcast and publication of radio, films and
television programs, and may also widen to cover the railways, post and telecommunications industries.
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