VALUE-ADDED TAX

China Unveils Import Tax Incentives for IC and Software Industries

07 April 2021

On 16 March, the Ministry of Finance and two other authorities issued a joint circular on import tax incentives to support the development of the integrated circuit (IC) and software industries (Cai Guan Shui No. 4 [2021]). More

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China Cuts VAT for Second Batch of Anti-Cancer and Rare Disease Drugs

16 October 2020

In the second batch of anti-cancer and rare disease drugs eligible for the value-added tax (VAT) reduction policy announced recently by several government departments, general VAT taxpayers are subject to a 3% VAT for the production, sale, wholesaling and retailing of the relevant drugs starting from October 2020. More

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UAE: Federal Tax Authority Clarifies VAT Rules for e-Commerce

26 August 2020

United Arab Emirates (UAE) Federal Tax Authority (FTA) has issued a detailed guide clarifying the application of value-added tax (VAT) on goods and services provided through e-commence platforms or digital marketplaces. More

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MAURITIUS: New Budget Favours Foreign Investors, but Will Tax Foreign Digital Services

30 July 2020

Mauritius has announced that it will introduce new measures to encourage foreign investment in the country, but that it will also extend value-added tax (VAT) to digital or electronic services provided by foreign suppliers. More

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KENYA: 2020 Finance Bill Enacted with Impact on Imports

15 July 2020

Uhuru Kenyatta, President of Kenya, signed the country’s 2020 Finance Bill into law on 30 June 2020. It included a number of provisions that will have an impact on foreign companies selling goods and services into the country. More

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China Extends Tax Relief Policies to Year-End for Supporting Epidemic Prevention

09 June 2020

The Ministry of Finance and the State Taxation Administration recently issued an announcement on the implementation deadline for tax policies for supporting epidemic prevention and control, ensuring supply and other tasks (Announcement No. 28 [2020]). More

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Guangdong Offers Tax Incentives to Boost Rural Revitalisation

27 May 2020

The Guangdong Provincial Tax Service of the State Taxation Administration recently issued a notice calling on tax bureaus across the province to strengthen the implementation of tax policies in support of poverty alleviation and rural revitalisation efforts. More

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China Gives Tax Support to Film and Related Industries

25 May 2020

The Ministry of Finance and the State Taxation Administration jointly announced on 14 May the exemption of value-added tax on taxpayers’ income from the provision of film screening service from 1 January 2020 through 31 December 2020 in a bid to support the development of film and other related industries (Announcement No. 25 [2020]). More

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China Extends VAT Concessions for Small-Scale Taxpayers to End-2020

15 May 2020

In order to give further support to individually-owned businesses and micro and small firms in resuming work and business operations, the time limit for the implementation of preferential value-added tax (VAT) policies will be extended from 31 May 2020 to the end of the year. More

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SAT Clarifies Value-Added Taxes on Used Vehicle Sales

14 May 2020

The State Taxation Administration recently gave clarifications on the collection of value-added tax (VAT) on used vehicle sales and related issues (Announcement No. 9 [2020]). More

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