Cotton VAT rate to be cut from 11% to 10% from May 1, 2018 Woolen Yarn for Sweater

China will cut value-added tax (VAT) rates as part of a tax reduction package amounting to 400 billion yuan (about 63 billion U.S. dollars) this year. The decision was made at a State Council executive meeting chaired by Premier Li Keqiang on Wednesday.The tax rate, starting from May 1, will be lowe