China Renews VAT Refund Program for Certain Entities
China recently announced it will renew a program offering full value-added tax refunds on “domestic equipment purchases” by certain approved mainland companies and “foreign invested” research and development centers, according to a Jan. 3 report from the Hong Kong Trade…
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Development Council. The foreign-invested companies must be approved by China’s Commerce Ministry, the report said. The VAT program will continue until Dec. 31, 2020.