China's Ministry of Finance has published draft Regulations for the implementation of the country's new Value Added Tax Law, which was adopted on 25 December 2024 and takes effect on 1 January 2026. The public consultation period for the draft regulations is open until 10 September 2025.
As previously reported, the Law is largely in line with China's current VAT policy, but with some important adjustments and clarifications. The regulations are broken down into six main chapters, including…