The move to cut Corporate Income Tax (CIT) from 25% to 22%, previously scheduled for 2021, is now to be implemented immediately as the country looks to mitigate the economic consequences of the coronavirus. More
The State Taxation Administration (STA) recently issued an announcement on measures for the refund of value-added tax on the purchase of domestically-produced equipment by research and development (R&D) institutions (Announcement No. 6 [2020]). More
On 1 February, China implemented an export value-added tax (VAT) refund policy for bunkering oil (HS code 27101922) on international navigation ships in its coastal ports. More
Under recently amended rules, mainland taxpayers who rent out state-owned farmland to agricultural producers for agricultural production will be exempt from VAT. More
China has removed tax-free quotas for key technology equipment import under new measures aimed at giving better scope to the current import tax policy. More
China has announced it will continue to offer full VAT refunds on domestic equipment purchases by qualified and approved mainland-funded R&D institutions and foreign-invested R&D centres. More
The State Taxation Administration (STA) recently issued a statement clarifying the required procedures for claiming tax credits and export VAT refunds. More
As of 1 June this year, qualified advanced manufacturing VAT taxpayers have been entitled to apply to their local tax authority for a refund of the end-of-period incremental VAT credit relating to the filing period commencing 1 July 2019 and for subsequent filing periods. More
The State Taxation Administration has issued a clarification with regard to the VAT credits accruing from any domestic passenger transportation costs incurred on behalf of / by employees. More
