VAT Rate of Small-Scale Taxpayers Drops to 1% from March to May!

State Council Premier Li Keqiang presided over the executive meeting of the State Council on February 25 and introduced new policy that small-scale taxpayers in Hubei are exempted from VAT, while the VAT rate of small-scale taxpayers in other regions has been reduced from 3% to 1% since March 1 to the end of May.

Source: www.gov.cn

http://www.gov.cn/premier/2020-02/25/content_5483215.htm

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