China’s new VAT regulations may significantly increase charges on Chinese exports
China’s new regulation on value-added tax (VAT), which went into effect on 1 August 2013, may increase charges on exports originating from China by up to six per cent. Circular No. 37 of 2013, jointly issued by China’s Ministry of Finance (MOF) and State Administration of Taxation (SAT), provides for the replacement of business tax with […]