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New Circular expands upon China’s VAT exemptions for financial services industry

New Circular expands upon China’s VAT...

China Tax Alert - Issue 20, July 2016

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China Tax Alert

On 30 June 2016 the Ministry of Finance (MOF) and State
Administration of Taxation (SAT) jointly issued Circular Caishui [2016] 70
(Circular 70) which expands upon the categories of Value Added Tax (VAT)
exemption affecting the financial services sector. The release of Circular 70
will no doubt be warmly welcomed by the financial services sector, though in
this China Alert we highlight certain areas where further clarification or
uncertainty may still exist.

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© 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.

京ICP备12028186号-1
京公网安备11010102003233号

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