We will further accelerate the implementation of the policy of withholding VAT tax rebates at the end of the period

        In order to release the dividend of the large-scale VAT retention and tax rebate policy as soon as possible and generate greater policy effect in helping market subjects tide over difficulties, we will further accelerate the implementation progress of the VAT retention and tax rebate policy at the end of the period. The relevant policy announcement is as follows:

      I. Accelerate the implementation of the tax rebate policy for small and micro enterprises. According to the Announcement of the State Administration of Taxation of the Ministry of Finance on Further Strengthening the Implementation of the Tax Rebate Policy for The End of the Period of VAT (Announcement Of the State Administration of Taxation of the Ministry of Finance No. 14 of 2022, hereinafter referred to as Announcement No. 14 of 2022), promptly handle the tax rebate policy for small and micro enterprises. On the basis of taxpayers’ voluntary application, we will accelerate the progress of tax refund, and actively implement the tax refund policy that micro enterprises and small enterprises shall refund their tax credits before April 30 and June 30, 2022, respectively.

        II. return the medium-sized enterprise stock to keep ahead of tax credits, will be announced in the second 2022, no. 14, paragraph 2 of article of “qualified manufacturing industries such as medium-sized enterprises, can since July 2022 tax reporting period, apply to the competent tax authorities for one-time return the stock to keep tax credits” changed to “qualified manufacturing industries such as medium-sized enterprises, May apply to the competent tax authority for a lump-sum refund of the retained tax credit starting from the May 2022 tax return period.” Before June 30, 2022, on the basis of taxpayers’ voluntary application, medium-sized enterprises will be collectively refunded their stock tax credits.

        III. Financial and tax departments at all levels to further enhance the work sense of responsibility and urgency, pay close attention to leave for tax rebates, establish and improve the working mechanism, close cooperation, coordination, strengthen policy propaganda guidance, optimize the tax refund service, improve the audit efficiency, speed up the leave on tax refund for progress, the strengthening funding, for eligible taxpayers, low risk, It is necessary to optimize the processing process of withholding tax rebate to the greatest extent, simplify the auditing procedure of tax rebate, and efficiently and conveniently handle the withholding tax rebate for taxpayers. Meanwhile, it is necessary to strictly prevent the risks of tax rebate, crack down on tax fraud, and ensure that the measures of withholding tax rebate are fully implemented and effective.

Article source：The Ministry of Finance