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China Extends VAT Exemption/Refund for Domestic R&D Equipment

|Approved Changes|China
China

China's Ministry of Finance and State Administration of Taxation have jointly issued Announcement No. 41 of 2023, which provides for the extension of the VAT exemption/refund on domestically-produced research and development (R&D) equipment purchased by specified R&D institutions until 31 December 2027. The exemption/refund is available for specified domestically-funded R&D institu…

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