Policy News for SMEs in China: January 2026
China’s New Value-Added Tax Law Enters into Effect State Council The new VAT Law introduces significant changes to the previous regime, redefining taxable transactions based on place of consumption, streamlining deemed taxable sales, tightening rules on taxpayer status conversion, and reinstating time limits for export VAT refunds. The law also formalises small-scale taxpayer exemptions, clarifies […]
