March 2019 - VAT rates are falling from 1 April 2019
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March 2019 - VAT rates falling from 1 April 2019
On 5th March 2019, China Premier, Mr. Li Keqiang announced that the current VAT rates for manufacturing industries and transport and construction industries will be reduced as a measure to beef up the economy. The actual implementation date will be 1st April 2019. When the new VAT rates are implemented, they shall be changed to 13%, 9%, 6% and 0% accordingly.
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