China announces VAT cut on all imported goods [UPDATED]

China will cut value-added tax (VAT) on all imported goods by 1 percentage point, 5.9%, effective from May 1, the Finance Ministry and State Administration of Taxation said in a filing late on Wednesday April 4.

China currently applies two VAT rates for different products; 17% for almost all products and 11% for some products, including agriculture. The rates will be...

Published

Archie Hunter

Julian Luk

April 04, 2018

17:27 GMT

London