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  • datetime:2018-04-12 11:44
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Ministry of Finance, State Administration of Taxation

Notice on adjusting the VAT tax rate

Taxation [2018] No. 32

Provinces, autonomous regions, municipalities directly under the Central Government, and separately designated municipal departments of finance (bureaus), the State Administration of Taxation, the local taxation bureaus, and the Finance Bureau of the Xinjiang Production and Construction Corps:

In order to improve the VAT system, the relevant policies for adjusting the VAT rate are hereby notified as follows:

I. Taxpayers who have VAT taxable sales activities or imported goods, which originally applied 17% and 11% tax rates, have their tax rates adjusted to 16% and 10%, respectively.

2. When taxpayers purchase agricultural products, the 11% deduction rate shall apply, and the deduction rate shall be adjusted to 10%.

3. The taxpayer purchases agricultural products that are used for production, sales, or consignment processing 16% tax rate goods, and calculate the input tax amount according to the deduction rate of 12%.

4. For export goods that originally applied a 17% tax rate and the export tax rebate rate was 17%, the export tax rebate rate was adjusted to 16%. For export goods and cross-border taxable activities that originally applied an 11% tax rate and the export tax rebate rate was 11%, the export tax rebate rate was adjusted to 10%.

V. The cross-border taxable activities of Article 4 of the foreign trade enterprise that was exported before July 31, 2018 and related to the sale of goods that have already been taxed at the pre-adjusted tax rate at the time of purchase, before the implementation of the adjustment Tax refund rate; if the value-added tax has been collected at the adjusted tax rate at the time of purchase, the adjusted export tax rebate rate shall be implemented. The cross-border taxable conduct of Article 4 of the goods and sales covered by Article 4 of the production enterprise that was exported before July 31, 2018 shall be subject to the export tax rebate rate before adjustment.

Adjust the execution time of export tax rebate rate and the time of exporting goods. The export date specified on the declaration form of export goods shall prevail, and adjust the execution time of cross-border taxable behavior tax rebate rate and the time of selling cross-border taxable activities. The date of issuance of the export invoice shall prevail.

6. This notice shall be implemented as of May 1, 2018. Where the relevant provisions in the previous paragraph are inconsistent with the VAT rate, deduction rate, and export tax rebate rate prescribed in this Circular, this notice shall prevail.

7. All localities must attach great importance to the adjustment of value-added tax rates, do a good job of preparations before implementation, as well as monitoring analysis, publicity and explanation during the implementation process, and ensure that the adjustment of value-added tax rates is smooth and orderly. In case of problems, please report to the Ministry of Finance and the State Administration of Taxation.

Ministry of Finance, State Administration of Taxation

April 4, 2018