•With all remaining sectors (real estate and construction, financial service, hospitality, food & beverage, healthcare, education, cultural & entertainment services, etc.) transitioning from Business Tax ("BT") to Value Added Tax ("VAT") nationwide with effect from 1 May 2016, VAT has now completely replaced BT in China.
- With all remaining sectors (real estate and construction,
financial service, hospitality, food & beverage, healthcare,
education, cultural & entertainment services, etc.)
transitioning from Business Tax ("BT") to Value Added Tax
("VAT") nationwide with effect from 1 May 2016, VAT has
now completely replaced BT in China. China's VAT system uses
multiple VAT rates and the commonly used rates are 3%, 6%, 11%, 13%
and 17%. The VAT reform aimed to promote development of the service
sector.
- To fulfill the commitment of the G20 countries to help
developing countries improve their ability in taxation collection
and management and deepen cooperation, China on 14 March 2016
opened an OECD-SAT multilateral tax centre in Yangzhou, China. This
centre, first of its kind in a country outside OECD members, is
designed to provide training to tax officials in China and those
coming from other developing countries and to provide country
officials with the opportunity to further
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