- China’s Ministry of Finance and State Administration of Taxation have extended the VAT exemption/refund on domestically-produced R&D equipment purchased by specified R&D institutions until 31 December 2027.
- The exemption/refund is available for specified domestically-funded R&D institutions and foreign-funded R&D centers subject to certain conditions.
- Revised conditions are provided for foreign-funded R&D centers, including a total investment of at least USD 8 million, 80 full-time research and development personnel, and total equipment purchases with an original value of at least CNY 20 million since the establishment of the center.
- Foreign-funded R&D centers must be approved by the competent business department in conjunction with relevant departments.
- The announcement applies from the first day of the month after the month in which qualification for the VAT exemption/refund is obtained.
Source Orbitax
Latest Posts in "China"
- France Cracks Down on Chinese E-Commerce Giants with Fines and Regulations
- China Releases Draft VAT Implementation Regulations for 2026 Law
- China Imposes 2000 Line Item Limit on Fully Digitalized Electronic Invoices, Affecting SAP Systems
- USTR Evaluates Extending Section 301 Tariff Exclusions on Chinese Imports Beyond November 2025
- Notice on Formulating the 2025 List of Integrated Circuit Enterprises for VAT Super-deduction Policy
