China to waive VAT for some small-scale taxpayers in 2023

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<div class="embed-content"><h1>China to waive VAT for some small-scale taxpayers in 2023</h1><div class="addtoany_container"><span class="a2a_kit a2a_kit_size_32 addtoany_list" data-a2a-url="http://haizi.name/reading/67-2020-08-24-23-14-40/168911-china-to-waive-vat-for-some-small-scale-taxpayers-in-2023.html" data-a2a-title="China to waive VAT for some small-scale taxpayers in 2023">
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<p style="text-align:center;"><img src="http://images.china.cn/site1007/2023-01/10/85052599_9d7161ed-083b-4839-8722-922eecd6e381_zsize.jpg" style="max-width: 100%; margin-bottom: 51px;" data_ue_src="http://images.china.cn/site1007/2023-01/10/85052599_9d7161ed-083b-4839-8722-922eecd6e381_zsize.jpg" class="picture-illustrating" data-toggle="tooltip" placement="bottom" trigger="hover focus" html="true" data-original-title="A staffer of tax service explains preferential tax policies at a service center in Jingxing County, Shijiazhuang City of "/></p></div> <div>north China's Hebei Province, Feb. 5, 2021. [Photo/Xinhua]"/>
<p style="margin: 0px 3px 15px; text-align: left;">China will exempt small businesses with monthly sales of 100,000 yuan (about 14,790 U.S. dollars) or less from value-added tax (VAT) throughout 2023, according to finance and taxation authorities.
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<p style="margin: 0px 3px 15px; text-align: left;">Ministry of Finance and State Taxation Administration also specified tax relief policies for taxpayers engaged in producer services such as postal and telecom services.</p>
<p style="margin: 0px 3px 15px; text-align: left;">As part of efforts to support economic growth, China has carried out a wide range of tax and fee cuts over the years. In 2022, the country implemented record-high value-added tax credit refunds, which totaled about 2.4 trillion yuan.</p> 
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north China's Hebei Province, Feb. 5, 2021. [Photo/Xinhua]"/>

China will exempt small businesses with monthly sales of 100,000 yuan (about 14,790 U.S. dollars) or less from value-added tax (VAT) throughout 2023, according to finance and taxation authorities.

Ministry of Finance and State Taxation Administration also specified tax relief policies for taxpayers engaged in producer services such as postal and telecom services.

As part of efforts to support economic growth, China has carried out a wide range of tax and fee cuts over the years. In 2022, the country implemented record-high value-added tax credit refunds, which totaled about 2.4 trillion yuan.

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China to waive VAT for some small-scale taxpayers in 2023

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