China's Ministry of Finance and State Administration of Taxation have jointly issued Announcement No. 14 of 21 March 2022, which provides for the expanded VAT refund policy that was announced in the Government Work Report delivered earlier in the month. This includes that qualifying taxpayers may obtain a refund for excess input VAT credits on a monthly basis, including small and micro enterprises, medium enterprises, and enterprises engaged in:
- Manufacturing;
- Scientific research and techni…