VAT reforms coming in 2012

VAT reforms coming in 2012

China alert - Issue 39, October 2011

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VAT reforms coming in 2012

On 26 October 2011, China's State Council took the first tangible steps towards implementing significant value added tax (VAT) reforms in China.   In an announcement issued by Premier Wen Jiabao, the Chinese government indicated its desire to replace business tax (BT) with VAT incrementally, commencing with a pilot program in 2012.

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