China's Ministry of Finance, Ministry of Commerce, and State Administration of Taxation have published Notice 121/2016 on the continued value added tax (VAT) exemption for domestic research and development (R&D) equipment purchased by R&D institutions. The exemption applies from 1 January 2016 to 31 December 2018 for approved domestic R&D institutions and foreign-funded R&D centers, subject to certain conditions.
For foreign-funded R&D centers, specific conditions for the…