17 July 2019

VAT reform for telecom industry put off to June 1, paper says

Chinese authorities are said to have put off until June 1 a program to replace the telecom sector’s business tax with value-added tax (VAT), China Times reported Thursday. The original schedule for the launch had been April 1, it noted. The VAT tax rates will possibly be set at 6 percent and 11 percent, sources were quoted as saying. An April 1 date was given out during the National People’s Congress and the Chinese People’s Political Consultative Conference last month, but the complexity of the telecom industry has led to a delay in the launch of the tax reform for the sector, the report said.

– Contact HKEJ at [email protected]



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