VALUE-ADDED TAX

Guangdong Offers Preferential VAT Policies for Housing Rental Enterprises

02 June 2022

According to guidelines recently issued by the Guangdong Provincial Tax Service of the State Taxation Administration, general taxpayers of value-added tax (VAT) on enterprises that obtain an income from renting residential properties or affordable housing to individuals shall calculate VAT payable using the simplified VAT calculation method. Small-scale taxpayers shall pay this tax at a reduced rate of 1.5%, down from 5%. More

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State Post Bureau Introduces 23 Relief Measures to Help Courier and Delivery Companies

30 May 2022

The State Post Bureau recently issued a notice to introduce 23 relief measures concerning the implementation of tax reduction and exemption policies, ensuring the operation of courier terminal outlets, and safeguarding the legitimate rights and interests of couriers. More

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Large Manufacturing Enterprises to Receive Advance Refund of VAT Credits

25 May 2022

The Ministry of Finance and State Taxation Administration recently announced that qualifying large enterprises in the manufacturing and other sectors may apply to the tax authorities for a one-time refund of outstanding VAT credits during the tax filing period starting in June this year. More

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INDONESIA: VAT Rate Increases to 11%

21 April 2022

Indonesia has raised value-added tax (VAT) from 10% to 11%, effective 1 April 2022, with another planned rise to 12% by 1 January 2025. More

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China Unveils VAT Policies to Promote Development of Hard-Hit Service Sectors

16 March 2022

The Ministry of Finance and the State Taxation Administration recently issued a joint notice on value-added tax (VAT) policies to help China’s hard-hit service sectors. The policies include extension of enhanced VAT tax credits for consumer services until 31 December 2022, and suspension of prepayment of VAT by subsidiaries of aviation and rail transport enterprises from 1 January-31 December 2022. More

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NIGERIA: 6% VAT for Digital Non-Resident Firms Introduced

11 February 2022

Nigeria has started collecting value-added tax (VAT) from offshore companies offering digital services in the country. More

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China Unveils End-of-Period VAT Credit Refund Policy for Advanced Manufacturing Sector

25 May 2021

According to an announcement jointly issued by the Ministry of Finance and the State Taxation Administration on 23 April (Announcement No. 15 [2021]), advanced manufacturing industry taxpayers are now entitled to apply to their local tax authority for a refund on overpaid input value-added tax (VAT) at the end of each taxable period. More

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China Announces Preferential Tax Policies for Imported Seeds and Provenance

18 May 2021

According to a circular (Cai Guan Shui No. 29 [2021]) jointly issued by the Ministry of Finance, the General Administration of Customs and the State Taxation Administration on 21 April, imports of seeds and provenance on the “Exemption Lists of Imported Seeds and Provenance” are exempt from import value-added tax from 1 January 2021 to 31 December 2025. More

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China Unveils Import Tax Policies for Energy Resources Development

10 May 2021

China recently announced the preferential import policies for the energy resources sector during the 14th Five-Year Plan period (1 January 2021 to 31 December 2025). More

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OMAN: Supply and Transport of Goods in SEZAD and Free Zones Set to be VAT Exempt

07 May 2021

The supply and transport of goods and services into Oman’s free zones are set to become exempt from value-added tax (VAT), according a recently issued clarification from The Public Authority for Special Economic Zones and Free Zones (OPAZ). More

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