China's Ministry of Finance and State Administration of Taxation have jointly issued Announcement No. 11 of 2021, which provides an increased and extended sales threshold for small-scale taxpayers to enjoy a VAT exemption. Previously, small-scale taxpayers with monthly sales income up to CNY 100,000 were exempted from VAT during the period 1 January 2019 to 31 December 2021. Under Announcement No. 11, the threshold is increased to monthly sales income up to CNY 150,000 during the period 1 Ap…