Announcement on Expanding the Scope of Industries Eligible for the Policy of Full Refund of Incremental VAT Credits
Announcement on Expanding the Scope of Industries Eligible for the Policy of Full Refund of Incremental VAT Credits
Announcement on Expanding the Scope of Industries Eligible for the Policy of Full Refund of Incremental VAT Credits
Announcement of the Ministry of Finance and the State Taxation Administration [2022] No. 21
June 7, 2022
To further enhance the implementation of the policy for VAT credits refund and concentrate efforts on stabilizing the market entities and employment, the policies for expanding the scope of industries eligible for the policy of full refund of VAT credits are announced as follows:
I. The scope of industries eligible for the policy of full refund of VAT credits shall be expanded, by extending the applicable scope of the policy of full refund of incremental VAT credits on a monthly basis and the policy of lump-sum refund of existing tax credits stipulated in Article 2 of the Announcement of the Ministry of Finance and the State Taxation Administration on Further Strengthening the Implementation of the Policy for the Refund of End-of-period VAT Credits (Announcement of the Ministry of Finance and the State Taxation Administration [2022] No. 14, the "Announcement [2022] No.14") , to enterprises (including individually owned households, the same below) in the industries like "wholesale and retail", "agriculture, forestry, animal husbandry and fishery", "accommodation and catering services", "residential services, repairs and other services", "education", "public health and social work" and "culture, sports and entertainment" (hereinafter "wholesale and retail industry and other industries").
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Announcement of the Ministry of Finance and the State Taxation Administration [2022] No. 21
June 7, 2022
To further enhance the implementation of the policy for VAT credits refund and concentrate efforts on stabilizing the market entities and employment, the policies for expanding the scope of industries eligible for the policy of full refund of VAT credits are announced as follows:
I. The scope of industries eligible for the policy of full refund of VAT credits shall be expanded, by extending the applicable scope of the policy of full refund of incremental VAT credits on a monthly basis and the policy of lump-sum refund of existing tax credits stipulated in Article 2 of the Announcement of the Ministry of Finance and the State Taxation Administration on Further Strengthening the Implementation of the Policy for the Refund of End-of-period VAT Credits (Announcement of the Ministry of Finance and the State Taxation Administration [2022] No. 14, the "Announcement [2022] No.14") , to enterprises (including individually owned households, the same below) in the industries like "wholesale and retail", "agriculture, forestry, animal husbandry and fishery", "accommodation and catering services", "residential services, repairs and other services", "education", "public health and social work" and "culture, sports and entertainment" (hereinafter "wholesale and retail industry and other industries").
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