China Unicom Faces Higher VAT Rate After Telecom Service Reclassification
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China Unicom (Hong Kong) Ltd. will face a higher VAT rate due to a new regulation from China's Ministry of Finance and State Taxation Administration, effective January 1, 2026. The VAT for telecommunications services will increase from 6% to 9% as services are reclassified from "value-added telecommunications services" to "basic telecommunications services." The company anticipates this change will affect its revenue and profit, advising shareholders to exercise caution with its securities.
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