China Offering VAT Refunds to Advanced Manufacturing Sector

Certain manufacturers in China are eligible for value-added tax refunds for the filing period that began July 1, 2019, “and for subsequent filing periods,” according to an Oct. 8 report from the Hong Kong Trade Development Council. The move is aimed to boost the development of China’s advanced manufacturing industries, the report said. The refund can be used by companies with a majority of total sales coming from “non-metal mineral products, general equipment, special equipment, computers, communications and other electronic equipment,” the HKTDC said.