- China’s Ministry of Finance and State Administration of Taxation have extended the VAT exemption/refund on domestically-produced R&D equipment purchased by specified R&D institutions until 31 December 2027.
- The exemption/refund is available for specified domestically-funded R&D institutions and foreign-funded R&D centers subject to certain conditions.
- Revised conditions are provided for foreign-funded R&D centers, including a total investment of at least USD 8 million, 80 full-time research and development personnel, and total equipment purchases with an original value of at least CNY 20 million since the establishment of the center.
- Foreign-funded R&D centers must be approved by the competent business department in conjunction with relevant departments.
- The announcement applies from the first day of the month after the month in which qualification for the VAT exemption/refund is obtained.
Source Orbitax
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