Tax Policy Guidelines for Foreign Trade and Investment Updated and Released

A new version of tax policy guideline for foreign trade and investment was recently released by the State Taxation Administration (STA).

This new guideline aims to fully utilize the functional role of taxation to secure foreign trade and investment.

The guideline, which was updated by revising some tax support policies and tax administration services, helps create a favorable tax environment for foreign trade and investment, where taxpayers can better understand and practice the policies.

The latest guideline consistes of two major parts, namely, supporting policies to secure foreign trade and investment, according to the official of the STA. Out of 51 items, 19 items refer to the tax policies stabilizing foreign trade, such as policies for exporting goods and services, value-added tax (VAT) policies for cross-border taxable activities, tax policies for new types of foreign trade, and facilitation measures for export tax refund (exemption) services. The other 32 policies focus on encouraging foreign investing.

The guideline is available now on the official website of the STA. Taxpayers log in the website to look up the latest tax support policies and see which are suitable for their own firms.

Source from State taxation administration of the P.R.C.

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