New high-resolution U-Pb dates indicate a duration of 89 ± 38 kyr for the Permian hiatus and of 14 ± 57 kyr for the overlying Triassic microbial limestone in shallow water settings of the Nanpanjiang Basin, South China. The age and duration of the hiatus coincides with the Permian-Triassic boundary (PTB) and the extinction interval in the Meishan Global Stratotype Section and Point, and strongly supports a glacio-eustatic regression, which best explains the genesis of the worldwide hiatus straddling the PTB in shallow water records. In adjacent deep marine troughs, rates of sediment accumulation display a six-fold decrease across the PTB compatible with a dryer and cooler climate as indicated by terrestrial plants. Our model of the Permian-Triassic boundary mass extinction (PTBME) hinges on the synchronicity of the hiatus with the onset of the Siberian Traps volcanism. This early eruptive phase released sulfur-rich volatiles into the stratosphere, thus simultaneously eliciting a short-lived ice age responsible for the global regression and a brief but intense acidification. Abrupt cooling, shrunk habitats on shelves and acidification may all have synergistically triggered the PTBME. Subsequently, the build-up of volcanic CO2 induced a transient cool climate whose early phase saw the deposition of the microbial limestone.