China's new VAT exemption explained (it could save companies Rmb120 bln)
With China having issued Announcement 52 on VAT on September 13, CT spoke to key practitioners to identify how companies can take advantage of the reforms.
China attempted to elucidated the types of cross-border services to be exempt from Value-Added Tax (VAT) last month, but the government's clarifications sometimes require clarifications of their own.
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