CMS, China | Chinese Tax Regulation Update | May 2022





CMS, China

Dear Sir or Madam,

Please find enclosed our update on the latest developments on Chinese Tax Law.

Kind regards,
CMS, China

Circular
Number
Issuance
Date
Effective
Date
Topic What is new?
Announcement [2022] No. 18 jointly released by the Ministry of Finance (“MOF”) and the State Administration of Taxation (“SAT”) 2022-04-29 2022-05-01

VAT exemption for delivery and collection services

From 1 May 2022 to 31 December 2022, taxpayers are exempt from VAT for incomes earned for providing services of delivery and collection of life necessities to residents.
Announcement [2022] No. 19 jointly released by the MOF and the SAT

2022-05-17

2022-05-17

Acceleration of refund of uncredited input VAT According to the Announcement, the tax authorities shall advance the time for accepting the application from qualified large enterprises for the refund of the “balance of uncredited input VAT” (“BUT”) from October 2022 to June 2022. The refund of BUT to large enterprises shall be completed by 30 June 2022 upon voluntary applications from the taxpayers.

This information is provided for general information purposes only and does not constitute legal or professional advice. Copyright by CMS, China.

For further information, please contact:

Gilbert Shen
Counsel
Head of Tax Practice Area Group
CMS, China
T
+86 21 6289 6363

F
+86 21 6289 0731
E
gilbert.shen@cmslegal.cn
Sherry Huang
Junior Tax Consultant
CMS, China

T +86 21 6289 6363

F +86 21 6289 0731
E sherry.huang@cmslegal.cn

 


This information is provided for general information purposes only and does not constitute legal or professional advice. Copyright by CMS, China.

CMS, China
“CMS, China” should be understood to mean the representative offices in Mainland China of CMS Cameron McKenna Nabarro Olswang LLP, CMS Francis Lefebvre Avocats and CMS Hasche Sigle, working together. CMS, China is a member of CMS Legal Services EEIG, a European Economic Interest Grouping that coordinates an organisation of independent member firms. CMS Legal Services EEIG provides no client services. Such services are solely provided by the member firms in their respective jurisdictions.

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