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VAT implementation dates announced

VAT implementation dates announced

China alert - Issue 17, August 2012  

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VAT implementation dates announced

In a joint circular Cai Shui [2012] No.71 (Circular 71) dated 31 July 2012, the Ministry of Finance (MoF) and the State Administration of Taxation (SAT) announced the implementation dates for the VAT pilot program in various cities and provinces, as well as the rules that will apply.  

Confirmation of the implementation dates follows the earlier announcement last week by China's State Council that the VAT pilot program would be rolled out to 10 cities/provinces ('the pilot locations') progressively between 1 August 2012 and 31 December 2012.

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