China: Financial sector faces issues on transition to VAT

09 December, 2013

In the transition to a value added tax (VAT) system, the financial services sector in China will need to consider certain issues.China’s Ministry of Finance suggests that- to a VAT system in China, modern principles of VAT would be applied. The VAT system for the financial services sector in China could be very broad. This may involve increased administration costs for the financial services sector.

Asia-Pacific

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