China adopts law on value-added tax

Xinhua | Updated: 2024-12-25 11:04

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BEIJING -- Chinese lawmakers on Wednesday voted to adopt a law on value-added tax, a major progress in enforcing the principle of law-based taxation.

The law, which was passed at a session of the Standing Committee of the National People's Congress, the national legislature, will take effect on Jan 1, 2026.

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