Chinese VAT and Business Tax registrations thresholds raised |
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2 November 2011 The monthly turnover threshold for registering small businesses for Chinese VAT compliance is to increase this month. The aim is to relieve a large swath of small and medium sized enterprises of the burden of charging and reporting VAT. In addition to reducing the reporting and compliance requirements, this should also help cash flows. Click here to read more about Chinese VAT rates. The monthly limits for VAT compliance are currently 2,000 to 5,000 yuan, and will now be 5,000 yuan to 20,000 yuan. The Chinese Business Tax registration limits have risen to 5,000- 20,000 yuan. |
