MIIT Regulates the Formulation of the List of Integrated Circuit Enterprises Eligible for VAT Super-deduction Policy

The Ministry of Industry and Information Technology (MIIT) has recently released the Circular on Relevant Requirements for the Formulation of the List of Integrated Circuit Enterprises Eligible for Value-Added Tax Super-deduction Policy in 2023 (Draft for Comment) (the "Draft") to solicit public opinions from June 27, 2023.

According to the Draft, enterprises applying for being included in the list shall submit their application via the information submission system between July 10 and July 30, 2023, and may find out whether they are included in the list via the system after August 25, 2023. Meanwhile, the Draft requires all enterprises to be responsible for the authenticity of the materials and data submitted by them. The enterprise applicants shall sign a letter of commitment, undertaking that, in the event of any dishonest behavior during the application, they will accept the measures against them adopted by relevant departments in accordance with the laws, regulations and relevant national provisions. The Draft also publishes the Conditions for Integrated Circuit Enterprises to Enjoy the Value-Added Tax Super-deduction Policy, specifying the conditions that must be met by five types of enterprises, including integrated circuit design companies, before enjoying the value-added tax super-deduction policy.



(Source: https://www.miit.gov.cn/gzcy/yjzj/art/2023/art_399fb9d09fb7402b9ac173295833b4aa.html)

Note: The link to the Chinese official website of the document is for your reference.