What principles have been followed in the amendment of the VAT regulations?
A: The principles having been followed in the amended VAT regulations taking into consideration of the economic situation and the urgency of the transformation reform are as follows:
(1) Ensuring the major point of reform without an amendment across the board, and that provides for the legal base for the VAT transformation reform;
(2) Keeping policy stable and linking the current policy and regulations with relevant provisions to show that the requirement for the rule of law has been followed;
(3) Satisfying the requirement for tax collection and administration, optimizing the tax services, enhancing the standard of tax collection and administration, and the standard of conduct in law enforcement.
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