The VAT Rate for Agricultural Products Would Go Down to 10% from 11%

By CnAgri2018-04-08 15:26:36 Print Chinese State Council announced that the VAT rate for manufacturing industry would be decreased to 16% from 17% from May 1, 2018, and the VAT rate for the sectors such as transportation, construction and basic communication service and the goods such as agricultural products would be descended to 10% from 11%. It was predicted that tax reduction in the whole year would be 240 billion RMB.