Date
21 August 2017

Bookstores get five-year VAT exemption, Caijing says

The Ministry of Finance has exempted wholesale and retail book distributors from paying the value-added tax for five years, a ruling that will benefit both online and offline bookstores, financial news website Caijing.com.cn reported Thursday. The exemption period runs from Jan. 1, 2013 to Dec. 31, 2017. Previously, bookstores had to pay about 13 percent of their sales revenue as value-added tax, forcing many of them to close shop, the report said.

– Contact HKEJ [email protected]

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