consumption tax – Charm

China’s cabinet clears path for VAT law to take effect next month

3 hours ago02 mins

The State Council has approved draft regulations for implementing China’s new value-added tax (VAT) law, which is aimed at governing the country’s largest source of tax revenue and set to come into effect early next year. The regulations, released for public consultation in August and approved on Friday, outline detailed rules for enforcing the VAT…

India’s tax reforms to partially offset tariff hit on GDP growth, economic adviser says

Cs news3 months ago02 mins

By Nikunj Ohri (Reuters) -The impact of U.S. tariffs on the Indian economy will be partially offset by recent consumption tax cuts that are expected to boost domestic demand, India’s Chief Economic Advisor said on Wednesday. The goods and services tax (GST) cuts announced by Prime Minister Narendra Modi’s government would have “compensating effects” on…