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> Dec. 2011 - VAT reform in Shanghai (Circulars 110 & 111)
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Dec. 2011 - VAT reform in Shanghai (Circulars 110 & 111)
Further to the announcement of the PRC indirect tax reform, the Ministry of Finance and the State Administration of Taxation jointly issued two circulars, Caishui [2011] 110 (“Circular 110”) and Caishui [2011] 111 (“Circular 111”), on 16 November 2011 to provide the implementation details of the pilot program of indirect tax reform in Shanghai which is effective from 1 January 2012.
06/12/2011
Salient points of the Circulars include:
- Types of VAT payers
- Applicable tax rates
- VAT basis
- VAT computation methods
- What should enterprises do?
To download the newsletter:
Mazars Tax newsletter - VAT reform in Shanghai (.pdf - 198.45 kB)
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