Zhongxin Finance, June 7th. On the 7th, the Ministry of Finance and the State Administration of Taxation issued an announcement on expanding the industry scope of the policy of full refund of value-added tax credits.
According to the announcement, Article 2 of the “Announcement of the Ministry of Finance and the State Administration of Taxation on Further Strengthening the Implementation of the Policy of Refund of VAT Refunds at the End of the Period” (Announcement No. 14 of 2022 of the State Administration of Taxation of the Ministry of Finance, hereinafter referred to as Announcement No. 14 of 2022) stipulates that The policy scope of full monthly refund of incremental value-added tax credits and one-time refund of existing tax credits for manufacturing and other industries in and catering industry”, “resident service, repair and other service industry”, “education”, “health and social work” and “culture, sports and entertainment industry” (hereinafter referred to as wholesale and retail industry and other industries) enterprises (including individual industrial and commercial households) , the same below).
According to the announcement, qualified enterprises in the wholesale and retail industry and other industries can apply to the competent tax authorities for refund of incremental tax credits and a one-time refund of existing tax credits from the tax filing period in July 2022.
The announcement requires that the finance and taxation departments at all levels should pay close attention to the implementation on the basis of the voluntary application of taxpayers, and continue to speed up the progress of tax refunds.
At the same time, the risk of tax rebates shall be strictly guarded against, and tax fraud shall be severely cracked down.
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