5 Major Developments in China

5 Major Developments

• E-Invoicing: China Moves to Implement the Electronic Invoice – E-Invoicing in China 2022: Expansion of the Fully Digitalized E-Fapiao Program

• China to extend sales tax exemption for NEVs to 2023

• China announces VAT exemption for legal aid services

• China Tax Agency Announces Strengthening of Export VAT Refund for Foreign Trade Enterprises, Other Measures
• Schedule for refund of excess input VAT credit accelerated

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E-Invoice

• China Moves to Implement the Electronic Invoice

• E-Invoicing in China 2022: Expansion of the Fully Digitalized E-Fapiao Program

• China special e-fapiao mandatory VAT invoice update

Input Tax Credit

• Schedule for refund of excess input VAT credit accelerated

• China prolongs Additional VAT Deduction relief for key services industry

Customs

• No tax on 98pc of imports from Afghanistan

• China Tax Agency Announces Strengthening of Export VAT Refund for Foreign Trade Enterprises, Other Measures

Exemption

• China to extend sales tax exemption for NEVs to 2023

• China announces VAT exemption for legal aid services

• 3% partial exemption on taxable sales for SME and monthly refunds of incremental VAT credits for manufacturers, small and micro enterprises, and six other industries

 

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