November 5, 2018: The Chinese government has announced a new policy to help foreign trade firms see additional benefits from the tax rebate and better prepare against external risks. According to the notice of Finance and Taxation (2018) No.123, this update went into effect on November 1st.
As you may recall, China announced a previous tax rebate in September which applied to electromechanical, cultural and other products.
Some points to note with this update:
Please click here for the original notice from the Chinese government.
Please click here for a translated version.
Should you have any questions or concerns with this new regulation, please reach out to BDP's Corporate Compliance Team.
Source: BDP International
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