Friday, April 27, 2012

China' Posted By: Dezan Shira & Associates

Following the pilot value-added tax (VAT) reform and the issuance of the "Circular on the Application of Zero VAT Rate and VAT Exemption on VATable Services (caishui [2011] No. 131, hereinafter referred to as "No. 131")," China"s State Administration of Taxation (SAT) on April 5 issued the "Announcement on Promulgating the Administrative Measures on Applying Tax Exemption, Offset and Refund on Taxable Services of Zero Value-added Tax Rate in Pilot Areas for Value-Added Tax in Lieu of Business Tax (Interim) (SAT Announcement [2012] No. 13, hereinafter referred to as "Announcement No. 13")."

While No. 131 provides that the export of certain types of services can be treated as zero-rated or exempt for VAT purposes, Announcem ...China, SAT, Reform

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