China VAT Law: Key changes and adaptation for foreign firms

What do foreign enterprises need to know about the new changes to China’s VAT law? This article from Hawksford offers a quick guide As of the end of 2024, China elevated 14 out of 18 tax categories from administrative regulations to formal laws, marking a milestone in aligning domestic practices with international standards. Central to this transformation is the Value-Added Tax (VAT) Law, which represents China’s largest tax category and…