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New VAT rules place cash pool structure in doubt

China’s tax reforms may not reduce tax burdens on popular cash pools, and might even increase costs. The traditional zero-balance cash pool structure specifically suffers.
New VAT rules place cash pool structure in doubt

For those managing corporate cash pools in China, the country’s new nationwide value-added tax (VAT) rules, which became effective on May 1, will offer little in the way of perks, according to Xiong Yi (pictured), a treasury consultant at ISPAN and former China head of cash management and liquidity advisory at RBS.

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