China's State Council is planning to increase the monthly turnover threshold for value added tax (VAT) and business tax (BT) from RMB 20,000 to RMB 30,000. Businesses with monthly turnover under the threshold will generally be exempt from VAT or BT.
The change will be confirmed by China's State Administration of Taxation, and is expected to apply from 1 October 2014 until the end of 2015.