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…
Read moreTag: China taxation
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.…
Read more
An updated version of this post appears here. Further nationwide measures to support businesses in China have been announced At the 18 February State Council of the People's Republic of China executive meeting chaired by Premier Li Keqiang, the council announced policies that included a reduction in social insurance premiums and a deferment in payment…
Read more