Wednesday, September 15, 2021
China's Ministry of Finance and the State Administration of Taxation have issued a statement announcing tax relief from the Urban Maintenance and Construction Tax.
A new law to govern the tax became effective from September 1, 2021.
The levy – a surcharge levied on top of VAT and excise duties on the domestic supply of goods – continues to feature rates of seven percent for suppliers based in cities, five percent for those based in towns, and one percent for other localities.
In Announcement No. 27 of 2021, released on August 24, 2021, Chinese authorities announced a number of concessions, including: