China's VAT reform crosses the finish line

China's value-added tax rollout is now complete. This analysis maps the evolution of the PRC tax system over the past three decades and details what the 2016 Circulars has in store for the new regime

26 minute readMay 20, 2016 at 12:34 AM

Katherine Jo

& clp articles

China's VAT reform crosses the finish line

Under the State Council's mandate, on March 7, 2016, the PRC Ministry of Finance and State Administration of Taxation (SAT) issued the Circular on Comprehensively Launching a Pilot Project for the Levy of Value-added Tax in Place of Business Tax, or Caishui [2016] No.32 (Circular 32).

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