Overview

China has released the details of a long-awaited pilot program for the reform of its turnover tax regime that will result in the merger of VAT and business tax into a single tax. This alert from Baker & McKenzie outlines how the reform will have far-reaching implications for domestic and foreign suppliers of goods and services in China, affecting overall tax burdens and the allocation of tax burdens in the supply chain and in some cases prompting changes in business models that suppliers have adopted for China.

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