From May 1st, timber import VAT will be reduced by 1%

From May 1st, timber import VAT will be reduced by 1%

Release Date: 2018-4-19 Source: Network
According to the document issued by the State Administration of Taxation and the Ministry of Finance of the People’s Republic of China in 2018: Finance and Taxation No. 32, originally applied to the 17% and 11% tax rates, the tax rates were adjusted to 16% and 10% respectively and formally implemented on May 1st. This opportunity for timber people to save goods in advance can save 1% more than their peers

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