UK Based Global VAT and Tax Consultants

China- VAT Reduction To 10%

China is to announce shortly that it will cut its standard VAT rate from 13% down to 10% this year. It has already reduced its VAT rate from 16% to 13% in April of this year.

China’s economy has slowed drastically as a result of  of US tariffs on Chinese products and a general global economic slowdown.