China Tax & Investment Express Issue No. 2022012 - Further enhancing the implementation of the refund policy of input Value-added Tax credits brought forward from the previous periods

China Tax & Investment Express (CTIE) brings you the latest tax and business announcements on a weekly basis. We selected some comparatively key announcements to provide for a synopsis and we also provide a link that leads you to the full content of each latest announcement (in Chinese).

Matters covered in this issue include: Public notice (PN) regarding further enhancing the implementation of the refund policy of input Value-added Tax (VAT) credits brought forward from the previous periods; PN regarding administration matters related to further enhancing the implementation of the refund policy of input VAT credits brought forward from the previous periods; PN regarding VAT exemption for small-scale VAT taxpayers; PN regarding collection and administration matters related to VAT exemption for small-scale VAT taxpayers; PN regarding collection and administration matters related to the preferential Corporate Income Tax policies for small and micro-sized enterprises with meager profit; Notice regarding the new item of specific additional deduction for Individual Income Tax (IIT) for the care of infants and children under the age of three; PN regarding revision and release of the “Operational Measures for specific Additional Deduction for IIT” (Trial); Notice regarding the “Negative List for Market Access (2022 Version)”; Regulations of the China (Zhejiang) Pilot Free Trade Zone; etc.

Please feel free to contact your EY client service professionals for further assistance if you find the announcements have an impact on your business operations.