Total tax revenue in China increased by 9.8% in 2013; VAT revenue rose by 9% to nearly RMB2.9 trillion, while corporate income tax revenue grew by 14% to RMB2.2 trillion. Total tax revenue was just over USD1.8 trillion; however rate pf increase slowed down compared to 2012. On-going reforms from the present business tax to a VAT for the service sector will continue to reduce tax burdens, as small-scale taxpayers (those with turnover below RMB 5 million from services) are subject to a lower VAT rate.
Related Posts
China grants corporate tax deferral on equipment swaps for chipmakers, machine tool firms through 2028
August 20, 2026
China's Ministry of Finance, State Taxation Administration, National Development and Reform Commission, and Ministry of
Read More
Taiwan tightens corporate tax rules for property leasing entities
August 17, 2026
Taiwan's Central District National Taxation Bureau, under the Ministry of Finance, had amended rules governing
Read More
China tightens tax scrutiny of offshore trusts, investments, insurance
August 12, 2026
China has expanded a tax-collection drive targeting undeclared income and capital gains from overseas assets held by
Read More
EU unleashes broad trade defence campaign targeting China, Russia, and now US Biofuels
August 03, 2026
The European Union executed a significant protectionist shift this week, defined by a sustained and escalating campaign
Read More
China introduces targeted tax breaks for energy, mining firms through 2027
July 29, 2026
China's Ministry of Finance and the State Taxation Administration have jointly issued Announcement No. 22 of 2026
Read More
China, US consulting on proposed tariff cuts
July 24, 2026
China and the US are seeking feedback from businesses and other stakeholders on proposed reciprocal tariff reduction
Read More