China Extends VAT Preferential Policy for Small Scale Taxpayers to end of 2020
On 7 May 2020, China’s State Taxation Administration (STA) and Ministry of Finance (MOF) announced an extension to the preferential value-added tax (VAT) policy for small-scale taxpayers. From 31 May 2020 to the end of the year taxpayers can continue to enjoy VAT reduction from 3% to 1%.