EVENT INFORMATION

1
Mei
2016

Business tax is replaced with VAT across sectors

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📅 1 Mei 2016 📍 China

The VAT pilot expanded to construction, property, finance and consumer services, ending the parallel business-tax system. The reform aimed to reduce cascading taxation and support service-sector growth; its benefits depended on firms’ ability to claim deductions, and it altered central-local revenue arrangements.

Inisiá sesion pa gusta òf marká e relato aki.
🔖 Marká

Personanan den e suseso aki

Li Keqiang

business owners

Organisashonnan den e Evento aki

Ministry of Finance

State Administration of Taxation