ANNOUNCEMENT 15 Jun 2015

In June 2015, the government of China announced a change in the tax legislation for exporters.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 01 Jan 2014 | Removal date: open ended
Still in force

Tax-based export incentive

On 15 June 2015, the Ministry of Finance issued Notice No. 66 of 2015 to support the development of the Chinese spacecraft industry. According to the Notice, companies providing space transportation services, spacecraft maintenance services, spacecraft & parts production, as well as spacecraft & parts exported after 1 January 2014 are eligible for the VAT refund.
 
Retroactively, services and products delivered in 2013 are also eligible for the VAT refund, regardless of the previous contract signing date.
 
Specific mention is made in the Notice of VAT refunds for exporters and for VAT rebates on imported parts and components, but the scope of the Notice does not appear to be limited to exports.
 

AFFECTED SECTORS