- New VAT Law passed in China, effective from 1 January 2026
- Existing VAT Regulations will be repealed
- Changes in taxable transactions, including updated definitions and scope
- Clarification of non-taxable items and removal of catch-all clause
- Focus on consumption within China for determining taxable transactions
- Enterprises need to adapt to changes and prepare for potential financial pressure
Source: roedl.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
