On 21 March 2022, China’s Ministry of Finance and the State Taxation Administration issued Bulletin [2022] No. 14 (Bulletin 14), which expands the scope of the more preferential refund policy for “newly increased unutilized input VAT” to small and micro-sized businesses in all sectors and medium and large-sized businesses in specified sectors. Prior to Bulletin 14, such refunds were available only to certain manufacturing businesses. Bulletin 14 also allows qualifying businesses a one-off refund of any unutilized input VAT incurred prior to 1 April 2019. Bulletin 14 is effective as from 1 April 2022.
Source Deloitte
Latest Posts in "China"
- Trickiest countries in which to achieve compliance
- China Lowers Luxury Car Tax Threshold to CNY 900,000, Expanding Tax Scope from July 2025
- China Revises VAT Rebate Policy 2025: Full Refunds for Key Industries, Partial for Others
- China Clarifies Tax Reporting Rules for Digital Platforms, Effective October 1, 2023
- France Cracks Down on Chinese E-Commerce Giants with Fines and Regulations
