ANNOUNCEMENT 13 Jun 2014In June 2014, the government of China announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
On 13 June 2014, the Ministry of Finance issued Notice No. 50 of 2014. Starting from 1 July 2014, companies providing cross-border water transportation services will be exempted from the VAT on the value of the exported service.
The export tax rebate procedure is applied in this case. Companies should also hold a valid "International Shipping License" or a "International Waterway Transport Permit" to be qualified for the VAT exemption.