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China’s Value Added Tax expanded to fully replace Business Tax in major new announcement
China’s VAT expanded to fully replace Business Tax
China Tax Alert - Issue 7, March 2016
Premier Li Keqiang’s announcement at the opening of the National People’s Congress on 5 March 2016 that the real estate and construction, financial services and insurance, and lifestyle services industries will all be subject to VAT with effect from 1 May 2016.
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