- China’s National People’s Congress Standing Committee approves the first VAT Law
- The law will replace the Provisional VAT Regulations in effect for 31 years
- Set to be implemented on 1 January 2026
- Maintains the current VAT structure and tax obligations
- Ensures stability in VAT rates and key components
Source: regfollower.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.
