This China Tax Alert discusses Announcement  53 which was released on 18 August 2016 by China’s State Administration of Taxation and sets out new Value Added Tax rules applicable to prepaid cards. The new rules took effect on 1 September 2016 and apply to sales of prepaid cards on or after 1 September 2016.
© 2017 KPMG Huazhen LLP — a People's Republic of China partnership, KPMG Advisory (China) Limited — a wholly foreign owned enterprise in China, and KPMG — a Hong Kong partnership, are member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.