China reduces VAT on sawn timber and round timber from 1 April 2019

VAT on some commodities and services has been reduced in order to stimulate the economy and the development of processing in the country.

VAT on round timber is reduced from 10% to 9% sawn timber from 16% to 13%.

It is expected that such a measure will stimulate woodworking enterprises to increase purchases and production of finished products and revive the market.