Tax Event in Dalian: "VAT Law (Draft) and Additional Deduction of R&D Expenses" Successfully Organised Go back »

2023-08-09 | Shenyang

On December 27, 2022, the "VAT Law of the People's Republic of China (Draft)" (hereinafter referred to as the "Draft") was submitted to the 38th meeting of the Standing Committee of the 13th National People's Congress for deliberation for the first time; After deliberation and adoption, the Draft was published on December 30, 2022, and opened to the public for comments. Compared with the 2019 Draft and the Interim Regulations on Value Added Tax currently in force, there are important changes in the scope of taxation, tax items, sales, input tax deduction, refund of retained tax credit, tax collection and administration, etc. As the largest tax in China, the legislative process of value-added tax has attracted much attention. For enterprises, it is important to understand the specific content and main changes of the Draft in order to assess the impact on enterprises and quickly make relevant adjustments and responses.

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