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.
© 2022 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in Mainland China, KPMG, a Macau (SAR) partnership, and KPMG, a Hong Kong (SAR) partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation.
For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.
Connect with us
- Find office locations kpmg.findOfficeLocations
- Email us kpmg.emailUs
- Social media @ KPMG kpmg.socialMedia