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China Standardizes Rules for VAT Exemption/Refund on Purchase of Domestically Produced R&D Equipment

China’s State Administration of Taxation has published Announcement No. 18 of 2021 concerning the application of the VAT exemption/refund on the purchase of domestically produced research and development (R&D) equipment purchased by R&D institutions as provided for by Announcement No. 91/2019 and extended by Announcement No. 6/2021.

Source: orbitax.com

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