Ministry of Finance, Implementing Rules for the PRC Tentative Regulations on Value-added Tax (2nd Revision)

财政部中华人民共和国增值税暂行条例实施细则 (第二次修正)

December 06, 2011 | BY

clpstaff &clp articles &

Thresholds for levy of value-added tax raised.

Clp Reference: 3220/11.10.28 Promulgated: 2011-10-28 Effective: 2011-11-01

Promulgated: October 28 2011
Effective: November 1 2011

Main contents: Under the revised Implementing Rules, the ranges for the threshold for the levy of value-added tax (VAT) have been raised to a monthly sales turnover of Rmb5,000-20,000 for the sale of both goods and taxable services. In the case of tax payment per transaction, the threshold for the levy of VAT shall be a sales turnover per transaction (day) of Rmb300-500 (Article 37).

Related legislation: PRC Tentative Regulations on Value-added Tax (Revised), Nov 10 2008, CLP 2008 No10. p.50

clp reference:3220/11.10.28promulgated:2011-10-28effective:2011-11-01

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