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. Imports of these drugs are also eligible for the 3% reduced import VAT rate.
Anti-cancer and rare disease drugs include preparations of anti-cancer and rare disease drugs and their ingredients approved for registration by the National Medical Products Administration.
Full details can be found in Announcement No. 39  of the Ministry of Finance, General Administration of Customs, State Taxation Administration and National Medical Products Administration.
Source: Ministry of Commerce, General Administration of Customs
- Health & Beauty
- Mainland China