The VAT reform pilot l in Shanghai is effective as of 1 January 2012 and have implemented for almost 3 months. How does the reform affect the captured industries and what is their effect to the tax burden of the taxpayers in the trial? On 21 March 2012, a forum was held on Shanghai to debate various hot topics on VAT reform trial in Shanghai.
“The core meaning of the VAT reform is not to reduce or increase the tax burden of individual enterprise or industry, but the ripple effect”, Professor Zhou Zhenhua, director of the Development Research Center, said. The report summarizes the ripple effect of the VAT reform trial to the captured industries and the whole economic system. Meanwhile, it indicates that more and more provinces become aware of the merits of the VAT reform and proactively seek to join the VAT reform trial.
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