China to Cut Value-Added Tax Among Small Businesses Until Dec.

China is exempting VAT for small business with monthly sales of no more than 100,000 yuan from Jan. 1 to Dec. 31, the Ministry of Finance says in statement.

• Levy rate of VAT for small businesses which are currently levied at 3% will be reduced to 1%

To view the source of this information click here

To contact the reporter on this story:
Foster Wong in London at fwong94@bloomberg.net

To contact the editors responsible for this story:
Chua Baizhen at bchua14@bloomberg.net

Lin Cheng

© 2023 Bloomberg L.P. All rights reserved. Used with permission.