The implementation of VAT is complicated because an investment product might involve multiple portfolios. Returns from most bonds are taxable but not those from stocks. Photo: AFP

No ‘one size fits all’ solution as China’s asset managers prepare for new VAT regime in 2018

Levy not expected to trigger capital flight to bank savings despite higher costs

Topic |   China economy

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The implementation of VAT is complicated because an investment product might involve multiple portfolios. Returns from most bonds are taxable but not those from stocks. Photo: AFP
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