ANNOUNCEMENT 28 Nov 2013

November 28th, 2013 - Two Chinese Ministries released a joint plan to ease the tax burden on animation and comic producers with a VAT reduction.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

PRC Ministry of Finance, November 28th 2013. (财税[2013]98号—关于动漫产业增值税和营业税政策的通知)
http://szs.mof.gov.cn/zhengwuxinxi/zhengcefabu/201312/t20131231_1031446.html

PRC Ministry of Finance, April 19th, 2018. (财税〔2018〕38号 关于延续动漫产业增值税政策的通知)
http://szs.mof.gov.cn/zhengwuxinxi/zhengcefabu/201804/t20180428_2880923.html

Inception date: 28 Nov 2013 | Removal date: 31 Dec 2020
Still in force

Tax or social insurance relief

On the 28th of November 2013, the PRC's Ministry of Finance and State Administration of Taxation released Finance and Taxation Notice No.98/2013, which stated that animation- and comic-producing companies were exempted from any VAT that amounted to more than 3% of their total sales.

The benefits were only available to companies approved by local authorities, in accordance with a scheme started in 2008. This practically excludes non-domestic firms from the programme.

The policy is effective until the end of 2017.

UPDATE: In 2018, the policy was extended to the end of 2020.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
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