June 18, learned from the Ministry of Finance, Ministry of Finance, State Administration of Taxation jointly issued a notice, decided from July 1 this year, 6% and 4% in two tranches unification of VAT rates adjusted to 3%.

Learned from the Ministry of Finance, China's current VAT rate of 6% levy projects include water, small hydropower, building products and biological products, at 4% levy rates include consignment, pawn and auction items. In addition, the current rate of VAT levied on the set also includes two tranches of 3% and 5%. Levy rate of 3% of the project for the reform of public transportation operators increased individual taxable service charge of 5% of the project for the Sino-foreign cooperative exploitation of crude oil and natural gas. Levy rate of 5% of the project did not involve the adjustment.

 Prior to the State Council executive meeting decided that from July 1 this year, the water, small hydro and other specific applicable VAT general taxpayer levy rate combined into one file, uniform implementation of the 3% levy. The two departments issued a document is a State Council executive meeting decided to implement the purpose is to further standardize the tax, fair tax.

At present, China VAT general taxpayer NA 17%, 13%, 11% and 6% of fourth gear rates. At the same time, relevant departments have also allowed a smaller scale as well as some small-scale taxpayers comply with the conditions imposed certain taxpayers choose simple way, by levying rates levied.

According to the two departments "on the degeneracy of VAT rate policy," which had "the Ministry of Finance State Administration of Taxation on some goods applicable VAT rates and easy way to lower VAT policy notice" mentioned taxpayers selling their used or sale of second-hand goods, "according to a simplified method in accordance with the 4% levy VAT rate halved" adjusted "in accordance with a simple way to follow a reduced rate of 3% 2% levy VAT."

Prior to the "Ministry of Finance State Administration of Taxation on the national implementation of the VAT reform of certain issues," mentioned qualifying taxpayers, "according to halve the rate of 4% VAT levy" adjusted "according to a simplified method in accordance with the 3% levy the reduced VAT rate of 2%. "