According to document No.39, Announcement No.20 19 of official website, Zhejiang Provincial Taxation Bureau of State Taxation Administration of The People's Republic of China and State Taxation Administration of The People's Republic of China General Administration of Customs of the Ministry of Finance, the original tax rates 1 6% and 10% have been adjusted to10 respectively since April 2019.

Generally speaking, the tax rate for machinery leasing is 13%. This is based on the provisions of the VAT reform policy. In case of VAT taxable sales or taxpayers importing goods, the original tax rate is 16%, and the tax rate is adjusted to 13%. In addition, the tax rate for real estate rental is 9%.