New Policies for Deepening the Value-added Tax ("VAT") Reform

On 21 March 2019, the Ministry of Finance, the State Taxation Administration and the General Administration of Customs jointly issued the “Announcement on Policies for Deepening the VAT Reform” (Announcement [2019] No. 39 of the Ministry of Finance, the State Taxation Administration and the General Administration of Customs) ("Announcement No. 39") and several guidelines in order to reduce the VAT tax burden.

Announcement No. 39 has come into effect on 1 April 2019.

To keep you ahead of change, the key amendments of Announcement on Policies for Deepening the VAT Reform is now available.

This document is compiled by PKF Tax and Business Consultants Limited. Please contact our tax professionals for further details.