Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 6/18/2013

China - Nationwide expansion of VAT pilot program (1 August) 

June 18: China’s Ministry of Finance and State Administration of Taxation jointly issued a circular providing guidance for implementing the nationwide expansion of China’s value added tax (VAT) pilot program on 1 August 2013.

The circular—Caishui [2013] 37 (24 May 2013)—completes the first phase of the VAT pilot program, with nationwide implementation of VAT for the transportation and “modern services” industries.


Afterwards, the tax authorities will then turn their attention to remaining industries that have yet to transition to VAT—i.e., post and telecommunications, construction and real estate, financial services and insurance, entertainment and other services. Each of these industries is expected to transition to VAT before 2015.


Read a June 2013 report [PDF 290 KB] prepared by the KPMG member firm in China: New regulations to implement nationwide expansion of China’s VAT pilot program on 1 August 2013




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