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China Provides Input VAT Refund for Certain Industries in 2018

|Approved Changes|China
China

China's State Administration of Taxation has published Circular 70/2018 regarding the refund of input value added tax (VAT) for certain industries in 2018. In general, VAT refunds are only allowed where a taxpayer has actually overpaid or qualifies for an export VAT refund, while refunds are not allowed where input VAT exceeds output VAT. Circular 70/2018 provides that such excess input VAT in…

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