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Clarification of VAT Deduction Policy for Industrial Machine Tool Companies in 2024

  • Ministry of Industry and Information Technology issued a notice on the list of industrial machine tool companies eligible for VAT additional deduction policy in 2024
  • List includes advanced industrial mother machine hosts, key functional components, and CNC system enterprises
  • Companies must submit applications before August 31 with necessary supporting materials
  • Companies included in 2023 list must resubmit certain items for 2024 inclusion
  • Enterprises can check their inclusion in the list from the information reporting system after October 31.

Source: lexiscn.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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