China Announces New VAT Refund Policy Effective September 2025 for Eligible Taxpayers

• New VAT refund policy in China effective from September 2025
• Eligible VAT taxpayers can apply for refunds of unused tax credits
• Announcements No. 7 and No. 20 of 2025 detail the policy and implementation
• Eligible industries include manufacturing, scientific research, software, IT services, environmental management, and real estate development
• Real estate industry can apply for a 60 percent refund if certain conditions are met
• Other industries can apply for proportional refunds with specific criteria
• Taxpayers must have a tax payment credit level of A or B and no history of fraudulent activities
• Exporters must apply for tax exemption and refund before applying for retained tax refund

Source: regfollower.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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