VAT, tourism and farming among issues addressed

VAT to be lowered in key areas

Value-added tax on sales will be lowered to 16 percent from 17 percent, with 10 percent VAT to be paid by importers, said a notice released by the Ministry of Finance and the State Administration of Taxation.

VAT will be deducted at 10 percent for buyers of agricultural goods, from the previous 11 percent, the departments said. The notice will take effect on May 1.