Value-Added Tax Law passed! To be implemented from January 1, 2026

The 13th meeting of the Standing Committee of the 14th National People's Congress voted on December 25 to pass the Value-Added Tax Law, which will take effect on January 1, 2026. The value-added tax is the largest tax category in our country. With the formulation and introduction of the Value-Added Tax Law, 14 out of the current 18 tax categories in our country have established laws, covering the vast majority of tax revenue, and significant progress has been made in implementing the principle of tax legality. (Xinhua News Agency)