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Dear friends, do you know about an important tax that is indispensable in our daily life-VAT? According to the "Interim Regulations of the People's Republic of China on Value-Added Tax", value-added tax is divided into two categories: basic tax rate and low tax rate. Today, we will reveal to you the latest VAT rates for various industries in 2023.
1. Basic tax rate
1. The value-added tax rate for selling goods or providing processing, repair and repair services, and importing goods is 13%.
2. Low tax rate
1. The value-added tax rate for primary agricultural products such as grain, edible vegetable oil, and fresh milk is 9%.
2. The value-added tax rate for public utility products such as heating, air conditioning, hot water, coal gas, liquefied petroleum gas, and natural gas is 3%.
3. The value-added tax rate for publishing and distribution products such as books, newspapers, magazines, etc. is 6%.
4. The value-added tax rate for agricultural production materials such as feed, fertilizers, pesticides, agricultural machinery, and agricultural film is 13%.
5. The value-added tax rate for metal mineral mining and dressing products, non-metallic mineral mining and dressing products, other mineral mining and dressing products and salt is 6%.
6. The VAT rate for construction services is 9%.
7. The value-added tax rate for value-added telecommunications services such as transportation services, postal services, basic telecommunications services, construction services, financial services, modern services and life services is 6%.
8. The VAT rate applicable to some daily necessities and services is 5%, such as catering and accommodation services, tourism and entertainment services, cultural and sports services, etc.
The above is the latest value-added tax rate situation for various industries in 2023. Please be sure to pay attention to these changes to better understand your tax responsibilities and obligations.
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