China Extends Preferential VAT Policies for Publishing and Cultural Industries
23 April 2021
The Ministry of Finance and the State Taxation Administration jointly announced the extension of preferential value-added tax (VAT) policies for the publishing and cultural industries on 22 March (Announcement No. 10 ). From 1 January 2021 to 31 December 2023, certain publications and publishing and production businesses will enjoy a 50% or 100% refund after payment of VAT. Wholesaling and retailing of books will also be exempt from VAT. Gate receipts of science promotion entities and science promotion activities organised by party and government departments and the China Association for Science and Technology (CAST) at and above the county level are also VAT-exempted. However, electronic publications that already benefit from the VAT refund policy as software products are not eligible for the above benefits.
Source: Ministry of Finance
- Books & Printed Items
- Mainland China