Exactly one year after changes to the PRC Enterprises Income Tax Law (中华人民共和国企业所得税法)1, the PRC launches a second round of tax reforms on January 1 2009, targeting value-added tax (VAT) payers. This is
A new tax revolution
A sweeping VAT reform takes place in China on January 1 2009. It will benefit many domestic companies but could block the cash-flow of some foreign invested enterprises, removing advantages enjoyed under the old tax regime. By Joanna Law.
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