Stringent COVID-19 lockdowns lead to VAT break The Chinese Ministry of Finance and State Taxation Administration have confirmed that delivery services will be zero-rated between 1 May and 31 December 2022. This will cover express delivery services of household essentials, aimed at providing some support
Over 500,000 business receive CNY 420 billion (approx €700bn) to boost COVID-hit economy The accelerated release of credits to small businesses and larger corporations in certain sectors is giving large scale liquidity to the economy. The first wave of VAT repayments has been paid over
2022 – three further provinces join electronic invoicing pilot China’s State Taxation Administration (‘STA’) is continuing to expand its voluntary introduction of the special e-fapiao e-invoice system, based on national invoicing platform, since the last wave of 25 regions joining the pilot in January 2021. These are
Mainland China places the Value Added Tax responsibilities for non-resident sourced digital or electronic onto the Chinese resident customer. This applies to both B2C and B2B. There is no facility for non-residents to register for VAT. Non-resident providers of digital services should consider the likelihood
