Announcement of the Ministry of Finance and the State Taxation Administration to Further Step up the Application of End-of-Period Excess Input Value-Added Tax Credit Refund Policies
Announcement of the Ministry of Finance and the State Taxation Administration to Further Step up the Application of End-of-Period Excess Input Value-Added Tax Credit Refund Policies
Announcement of the Ministry of Finance and the State Taxation Administration to Further Step up the Application of End-of-Period Excess Input Value-Added Tax Credit Refund Policies
Announcement of the Ministry of Finance and the State Taxation Administration [2022] No.14
March 21, 2022
To support the development of micro and small enterprises as well as the manufacturing and other sectors, boost the confidence of market participants and incentivize them, a further enhancement of the application of the relevant end-of-period excess input value-added tax credit (hereinafter referred to as the "VAT credit") refund policies is hereby announced as follows:
1. The end-of-period VAT credit refund policy shall be enhanced for micro and small enterprises, by extending the applicable scope of the policy of full refund of incremental VAT credits on a monthly basis that is applicable to the advanced manufacturing sector, to eligible micro and small enterprises (including individually-owned businesses, hereinafter the same), as well as granting a lump sum refund of existing tax credits to micro and small enterprises.
(1) Starting from the tax filing period of April 2022, an eligible micro or small enterprise may apply to the competent tax authority for a refund of its incremental VAT credit amount. Before December 31, 2022, the VAT credit refund eligibility conditions shall be subject to Article 3 of this Announcement.
(2) Starting from the tax filing period of April 2022, an eligible micro enterprise may apply to the competent tax authority for a lump-sum refund of its existing tax credit amount; and starting from the tax filing period of May 2022, an eligible small enterprise may apply to the competent tax authority for a lump-sum refund of its existing tax credit amount.
2. The end-of-period VAT credit refund policy shall be enhanced for the "manufacturing", "scientific research and technical services", "electricity, heating, gas and water production and supply", "software and information technology services", "ecological protection and environmental governance" and "transport, warehousing and postal " sectors (hereinafter referred to as “manufacturing and other sectors”) , by extending the policy of full refund of incremental VAT credits on a monthly basis that is applicable to the advanced manufacturing sector, to eligible enterprises (including individually-owned businesses, hereinafter the same) in the manufacturing and other sectors, as well as granting a lump sum refund of existing VAT credit amount to enterprises in the manufacturing industry and other sectors.
(1) Starting from the tax filing period of April 2022, an eligible enterprise in the manufacturing and other sectors may apply to the competent tax authority for a refund of its incremental VAT credit amount.
(2) Starting from the tax filing period of July 2022, an eligible medium-sized enterprise in the manufacturing and other sectors may apply to the competent tax authority for a lump-sum refund of its existing VAT credit amount; and starting from the tax filing period of October 2022, an eligible large enterprise in the manufacturing and other sectors may apply to the competent tax authority for a lump-sum refund of its existing VAT credit amount.
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Announcement of the Ministry of Finance and the State Taxation Administration [2022] No.14
March 21, 2022
To support the development of micro and small enterprises as well as the manufacturing and other sectors, boost the confidence of market participants and incentivize them, a further enhancement of the application of the relevant end-of-period excess input value-added tax credit (hereinafter referred to as the "VAT credit") refund policies is hereby announced as follows:
1. The end-of-period VAT credit refund policy shall be enhanced for micro and small enterprises, by extending the applicable scope of the policy of full refund of incremental VAT credits on a monthly basis that is applicable to the advanced manufacturing sector, to eligible micro and small enterprises (including individually-owned businesses, hereinafter the same), as well as granting a lump sum refund of existing tax credits to micro and small enterprises.
(1) Starting from the tax filing period of April 2022, an eligible micro or small enterprise may apply to the competent tax authority for a refund of its incremental VAT credit amount. Before December 31, 2022, the VAT credit refund eligibility conditions shall be subject to Article 3 of this Announcement.
(2) Starting from the tax filing period of April 2022, an eligible micro enterprise may apply to the competent tax authority for a lump-sum refund of its existing tax credit amount; and starting from the tax filing period of May 2022, an eligible small enterprise may apply to the competent tax authority for a lump-sum refund of its existing tax credit amount.
2. The end-of-period VAT credit refund policy shall be enhanced for the "manufacturing", "scientific research and technical services", "electricity, heating, gas and water production and supply", "software and information technology services", "ecological protection and environmental governance" and "transport, warehousing and postal " sectors (hereinafter referred to as “manufacturing and other sectors”) , by extending the policy of full refund of incremental VAT credits on a monthly basis that is applicable to the advanced manufacturing sector, to eligible enterprises (including individually-owned businesses, hereinafter the same) in the manufacturing and other sectors, as well as granting a lump sum refund of existing VAT credit amount to enterprises in the manufacturing industry and other sectors.
(1) Starting from the tax filing period of April 2022, an eligible enterprise in the manufacturing and other sectors may apply to the competent tax authority for a refund of its incremental VAT credit amount.
(2) Starting from the tax filing period of July 2022, an eligible medium-sized enterprise in the manufacturing and other sectors may apply to the competent tax authority for a lump-sum refund of its existing VAT credit amount; and starting from the tax filing period of October 2022, an eligible large enterprise in the manufacturing and other sectors may apply to the competent tax authority for a lump-sum refund of its existing VAT credit amount.
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