Major expansion of VAT reforms progressively from 1 August 2012
Major expansion of VAT reforms progressively from...
China alert - Issue 16, July 2012
On 25 July 2012, China’s State Council decided that the Value Added Tax (VAT) pilot program, currently in force in Shanghai, will be expanded progressively from 1 August 2012. The VAT pilot program is to be expanded to Beijing, Tianjin, Jiangsu, Zhejiang, Anhui, Fujian, Hubei, Guangdong, Xiamen and Shenzhen ('the 10 locations') between 1 August 2012 and 31 December 2012. The precise dates for implementation in each location have not been specified. However, we anticipate that specific announcements will now be issued by the tax authorities in each of the affected locations confirming the precise implementation date.
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