China's State Administration of Taxation has published Announcement No. 18 of 2021 concerning the application of the VAT exemption/refund on the purchase of domestically produced research and development (R&D) equipment purchased by R&D institutions as provided for by Announcement No. 91/2019 and extended by Announcement No. 6/2021. Announcement No. 18 standardizes the rules for the exemption/refund for the period 1 January 2021 to 31 December 2023.
The exemption/refund is available…