两部门就增值税法实施条例公开征求意见

Core Points - The implementation of the Value-Added Tax (VAT) Law in China is set to begin on January 1, 2026, following its approval at the 13th meeting of the 14th National People's Congress Standing Committee in late 2024 [1][3] - The Ministry of Finance and the State Taxation Administration have drafted the "Implementation Regulations of the Value-Added Tax Law (Draft for Comments)" to ensure smooth implementation [1][2] Group 1 - The VAT is the largest tax in China, with an estimated revenue of approximately 6.57 trillion yuan in 2024, accounting for 38% of total tax revenue [1] - The draft regulations consist of six chapters and fifty-seven articles, aimed at clarifying and detailing the provisions of the VAT Law, enhancing the certainty and operability of the tax system [2] - The regulations specify definitions for taxable transactions, including goods, services, intangible assets, and real estate, as well as clarifying the categories of taxpayers [2] Group 2 - The tax rate section of the draft clarifies the scope of zero-rated exports and cross-border sales of services and intangible assets, along with rules for transactions involving multiple tax rates [2] - The tax exemption section outlines specific standards for VAT exemption projects and the conditions under which tax incentives can be applied, emphasizing the need for transparency in tax policy [2] - The progress in tax legislation is notable, with 14 out of 18 tax types in China having completed the legislative process, reflecting significant advancements in tax rule of law [3]