Example: tourism industry

Value Added Tax VAT in PRC - china-tax.net

Value Added Tax Part One 3 VAT regulations and rules PRC VAT Tentative Regulations, State Council Detailed Rules on PRC VAT Tentative ... VAT input = (Dutiable value + customs duty + (consumption tax if any)) * tax rate 14 Sale 300 X 17% = 51 Purchase 100 X 17% = 17 200 X 17% = 34 Illustration ...

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  Value, Added, Value added tax, Value added tax vat

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