BEIJING: China approved a value-added tax law on Wednesday (Dec 25) to take effect on Jan 1, 2026, the official Xinhua said, bringing into one document previous regulations that have included exempting items from the tax. VAT, the largest tax category in China, accounted for around 38 per cent of national tax revenue in 2023, official data show. The report did not detail provisions of the law. The latest draft included exemptions for some agricultural products, imported instruments and

Tag-uri: Agricultura