Update on China’s foreign digital services VAT

February 14, 20230

Type: Draft Legislation

Chinese legislators released a draft VAT law in January. In addition to combining numerous existing rules, this law moves in the direction of requiring non-resident providers of digital services to comply with VAT regulations. 

The VAT is mentioned as being applied “for the sale of services and intangible assets, where the services and intangible assets are consumed within China, or the sellers are domestic entities or individuals”. 

In 2023, the measure is likely to become a law. 

Effective date: January 2023 

Source

 

Leave a Reply

Your email address will not be published. Required fields are marked *

TPA Global

H.J.E Wenckebachweg 210
1096 AS Amsterdam