Tax and Financial Advisory
China's Recent Tax Reforms and Implications for EU SMEs
China has recently implemented changes and reforms to the Individual Income Tax (IIT), the Value Added Tax (VAT) and Corporate Income Tax (CIT) in China.
This webinar, addresses the main changes of these reforms and will elaborate on their impact for EU businesses operating in China.
China VAT reform: implications of the 2019 Value Added Tax reforms
China's VAT reform continued with new Value Added Tax policies, such as lowering of China's VAT rates in 2019, increased scope of VAT credits and the introduction of a VAT refund pilot scheme from April 1st of 2019.
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.