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About the adjusting of the value added tax

Posted on:2018-04-23 17:12 Page views:1403

According to what we know from the official website of the Ministry of Finance of the People’s Republic of China,in order to improve the system of value added tax,the Ministry of Finance makes an announcement about the adjusting of the value added tax.This adjustment mainly includes the action of the sales,importing goods,agricultural products,exporting goods,cross-border tax and so on,which will cause the VAT.The tax rate will be reduced 1%.This will be carried out since May 1st,2018.This means that the VAT of importing the sesame will be reduced to 10% from the 11% before.It will be good for reducing the cost of importation.