Tax Reduction
China announces further reductions to the Value Added Tax (VAT): from 16% to 13% and from 10% to 9%
On March 5th, 2019, China announced reductions to the Value Added Tax (VAT). The VAT rates of 16% and 10% will be decreased to VAT rates of 13% and 9%. In the announcement, no specific date on which the new VAT reductions will come into effect was provided, but it could be expected to still come into effect in 2019.