China will exempt VAT for small-scale taxpayers in 2023

BEIJING (Reuters) – Taxpayers with monthly sales of less than 100,000 yuan ($14,750) will be exempted from value-added tax (VAT) in 2023, China’s finance ministry said on Monday.

($1 = 6.7780 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom; Editing by Alex Richardson)

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