Circular of the State Administration of Taxation on Matters Concerning Deduction of Input Tax Levied on Futures Transaction Carried out by Value-Added Tax General Taxpayers

Circular of the State Administration of Taxation on Matters Concerning Deduction of Input Tax Levied on Futures Transaction Carried out by Value-Added Tax General Taxpayers

Guo Shui Fa [2002] No.45

April 29, 2002

According to the Circular of the State Administration of Taxation on Improving Administration of Value-Added Tax (Guo Shui Fa [1995] No.15 and Circular of the State Administration of Taxation on Matters Concerning Improving Administration of Value-Added Tax (Guo Shui Fa [1995] No.192), commercial enterprises may apply for deduction of input tax only after payment of the purchase price (including the transportation fees paid for the purchase of goods).
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