In March, the Chinese government issued two notices clarifying tariff and tax incentives for the integrated circuit and software industries. Companies undertaking major integrated circuit projects and importing new equipment can pay import VAT in six-year installments after importing the first equipment, unless prohibited otherwise, if they provide a guarantee for the unpaid taxes that Customs acknowledges.
Source: mnetax.com
Latest Posts in "China"
- Zhejiang Tax Bureau Notice on Issuing VAT Ordinary Invoices for Export Business
- China Simplifies VAT Refund Checks to Boost Tourism and Retail Spending
- Boosting Market Access: China Renews VAT and CIT Exemptions for Foreign Bond Investors
- China Expands Instant VAT Refunds to Boost Tourist Spending
- China Urges Targeted, Risk-Based Measures in Invoicing Crackdown to Protect Legitimate Business
