China Finance Ministry Seeks Comment on Draft VAT Rules

China’s Ministry of Finance has released draft regulations that will govern the implementation of the country’s Value-Added Tax law and is inviting public feedback. The proposal seeks to spell out core elements of the tax regime, including clearer definitions of who qualifies as a taxpayer and what transactions fall within the VAT scope. The consultation is part of Beijing’s effort to provide greater certainty to businesses as it refines its tax framework. Stakeholders are encouraged to submit comments before the ministry finalises the rules.