Australian businesses take note - China's VAT reforms expanded to new sectors

Tax Update

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The Chinese Government is moving to rapidly conclude its introduction of VAT (GST) and its removal of existing Business Taxes. Further reform measures were announced in early March and will apply from 1 May 2016.  These reforms will be relevant for all Australian business that have operations or investments in China, or which are considering expansion into China. 

In the attached Australian Tax Update we provide an overview of the latest China VAT reform measures, with a particular emphasis on the issues that will be relevant for the construction and real estate sectors.

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