BEIJING, Dec. 25 (Xinhua) -- Chinese lawmakers on Wednesday voted to adopt a law on value-added tax (VAT), the largest tax category in China, marking major progress in enforcing the principle of ...

China approved a value-added tax law on Wednesday to take effect on Jan. 1, 2026, the official Xinhua said, bringing into one document previous regulations that have included exempting items from ...

Value-added taxes (VAT), which are a type of consumption tax, are major sources of revenue for countries in the Organization for Economic Co-operation and Development (OECD), among other regions.

A value-added tax can catch some travelers off guard and getting a VAT refund takes patience and persistence. But if you're eyeing a big-ticket purchase while traveling, it can be worth the effort.

The Value-Added Tax Should Be Having Its Moment. A national consumption levy could address what fiscally ails the US and finally be politically palatable. May 7, 2025 at 6:00 AM EDT.

The Chinese salt tax, which dates back to the third century BC, is one of the world’s earliest examples of a tax on a consumer good. These taxes trace their often turbulent history through excises on ...

Rows of coin stacks with toy blocks among the receipts symbolizing value added tax getty This article is based on a reader’s suggestion: Design a VAT regime to help the U.S. fisc recover from ...

Lower capacity countries often struggle to administer the Value Added Tax (VAT) in the extractive industries, partly due to the large VAT refunds needs of this capital and export-intensive sector.

Value-added tax is typically a percentage of the sale price. For example, if you purchase a pair of shoes for $100, and the VAT rate is 20%, you would pay $20 in tax at the register when you pay ...

A value-added tax would not reduce the budget deficit but actually increase it. There is a growing call by backers of bigger government for Congress to impose a value-added tax (VAT) on top of all ...

The value-added tax (VAT) is a cornerstone of the modern tax system. It has many desirable properties in theory: it does not distort firms' production decisions, it is difficult to evade, and it ...