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China Mobile, Unicom & China Telecom: Telecom Service VAT Adjusted from 6% to 9%
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CHINA MOBILE (00941.HK), CHINA UNICOM (00762.HK), and CHINA TELECOM (00728.HK) announced that China's Ministry of Finance and the State Administration of Taxation had recently issued an announcement on the specific matters concerning the scope of VAT taxation. This announcement stipulates that business activities providing mobile data services, SMS and MMS services, and internet broadband access services within the national borders using fixed networks, mobile networks, satellites, and the internet have had their tax category adjusted from value-added telecom services to basic telecom services from January 1, 2026. The corresponding VAT rate has also been adjusted from 6% to 9%. The three Chinese telecom giants said this adjustment in the applicable tax category will impact their revenue and profit. AAStocks Financial News |
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