China Introduces Export VAT Refund for Bunkering Oil for Certain Ships
China recently introduced an export value-added tax refund rate of 13% for bunkering oil on international navigation ships in its costal ports, according to a Feb. 26 report from the Hong Kong Trade Development Council. The rate, which took effect…
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Feb. 1, will allow ships to apply for export VAT refunds through export declarations when they enter “export-supervised warehouses to refuel,” the report said.