New VAT rules may not take effect until October
June 15, 2012 | BY
clpstaff &clp articles &China might delay implementing its new Value Added Tax rules until October
The Shanghai Securities News reported that China might delay implementing its new Value Added Tax (VAT) rules until October.
As previously reported in China Law & Practice, the government is expected to expand the VAT reforms piloted in Shanghai earlier this year.
According to the Shanghai Securities News, an internal government memo states that Anhui province will adopt the changes on October 1. Other cities taking part in the expanded pilot programme are also expected to begin at the same time.
Previously, staff members with the State Administration of Taxation had indicated that the Beijing programme might start as early as July 1.
For CLP's in-depth analysis of the VAT reforms and its effect on businesses, click here.
By Peter Leung
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