The Announcement on Issues Concerning Declarations after Adjusting Value-added Taxwill be enacted from June 1, which signals smooth declaration of taxes after the countryreplace all business tax with value-added tax.
China extended the policy to cover the construction, real estate, finance and consumerservices sectors from May 1. They were the last four sectors still taxed based on theirrevenue.
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Guest Xie Ping shows his value-added tax (VAT) invoice offered by Fuzhou Hotel in Fuzhou, EastChina's Fujian province Reprinted from China daily |