In the News: VAT Refund; Corporate Bond Reforms; and Ethics in Science and Technology

March 29, 2022 | BY

Hugo Yeung

Businesses to receive VAT refunds; plans to improve China's corporate bond market outlined; brand new requirements to develop technology ethically

Credit: realone952/Adobe Stock

VAT Refund

On March 22, China's Ministry of Finance announced VAT refunds for small-and-micro businesses and businesses in "manufacturing and other sectors" (关于进一步加大增值税期末留抵退税政策实施力度的公告). The new measures will come into effect on April 1 and is expected to inject RMB 1.5 trillion ($235 billion) into the economy.

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