China approves value-added tax law, taking effect in 2026

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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.

It may also indicate a recovery in industrial profits, further supporting economic momentum," Tommy Xie, head of Asia macro research at OCBC, said in a note on Monday.

Last month, China unveiled tax incentives on home and land transactions to support the crisis-hit property market.

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Category: EconomyBusiness

Markets: SingaporeChina

Topics: People 2024 Included Items Research Revenue Cent Xinhua National Official China

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Published On: 2024-12-25 @ 11:27:00 (17 hours ago)

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News Source URL: channelnewsasia.com

Language: English

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