According to circular Caishui [2018] No. 33, issued by the Ministry of Finance on April 4, 2018, the following new rules will apply effective May 1, 2018
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The threshold to become ordinary VAT payer will be unified to annual revenue of 5 million CNY.
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Companies already registered as ordinary taxpayers with annual revenue below this threshold can become small-scale taxpayers. The application of transfer-back to small-scale taxpayer could be filed before 31 December 2018.