For exporters, export tax rebates such indirect taxes paid during the production and distribution process can be refunded. Specifically, exporters are eligible for rebates on value-added tax (‘VAT’) and consumption tax (‘CT’) incurred during the production process. Often export rebate policies are adjusted according to the current economic circumstances to support and promote exports. For…
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On 13 July 2021, the State Taxation Bureau issued the Notice on the Consolidation of the Declaration Forms for Value-added Tax, Consumption tax, Urban Construction, and Maintenance Tax and Educational Surcharges (“Notice No. 20”) effective from 1 August 2021. The consolidation of the declaration forms falls in the wider reforms to streamline tax collection and…
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Horizons will continue to update important business news and information related to the coronavirus epidemic. 5 Months Reduction on Employee Medical Insurance Premium The China Ministry of Finance, National Medical Insurance Bureau and Tax Bureau jointly announced the Guiding Opinions on the Periodic Reduction of Basic Employee Medical Insurance Premium (“Guiding Opinions”) measure on 21 February 2020.…
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