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China Tax Laws: A comparison with the Philippines and South Korea - Vimarsana News

China Tax Laws: A comparison with the Philippines and South Korea

In terms of turnover tax, the authorities increased tax reduction or refund for the manufacturing industry and micro, small and medium-sized enterprises greatly affected by the pandemic and energy crisis with a sharp drop in value-added tax revenue and rise in export rebate.

Source: law.asia
Tax Laws in China, the Philippines and South Korea - Vimarsana News

Tax Laws in China, the Philippines and South Korea

Policymakers in the region are working to strike a balance between promoting economic development and raising revenue. Companies need to take a bird’s-eye view of the implications for their businesses

Source: law.asia