China's timber import VAT reduced by 1% from May 1st

According to the document issued by the State Administration of Taxation and the Ministry of Finance of China in 2018: No. 32 of Caixi [2018], originally applied to the tax rates of 17% and 11%, the tax rates were adjusted to 16% and 10% respectively and formally implemented on May 1st. Living this time, the timber people can save 1% more than their peers in advance.