Since 1 February 2012, or sales of self-used fixed assets, under the circumstances listed by a tax notice, general taxpayers can adopt simple method to calculate VAT at half of 4%. .
Lee & Lee Associates Comments: The above notice is a supplementary document to Cai Shui [2009], No.9. In combine, for sales of self-used fixed assets, if input VAT has been deducted before, 17% of VAT shall be levied, otherwise, half of 4%.
Relevant Rule: ‘Notice of the State Administration of Taxation on Issues Concerning the VAT Liability for sales of Self-used Fixed Assets by General Taxpayers ‘No. 1, 2012
