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Q:
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What are the types of immediate refund of VAT policies?
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A:
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There are four types of immediate refund of VAT policies as follows:
1.
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Limited amount refund
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2.
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Full amount refund
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3.
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Proportional amount refund
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4.
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Excess amount refund
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Q:
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Which items meet the requirement of ‘limited amount refund’ policy?
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A:
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‘Immediate refund of VAT levied on providing employment opportunities for disabled ’fulfil the requirement of ‘limited amount refund’ policy.
For those enterprises and individual industrial and commercial households (hereinafter referred as taxpayer) which provide employment opportunities for disabled, tax authority shall determine the limits of the refund amount for immediate refund of VAT levied based on the number of disabled that the taxpayer employed.
The detailed limits if VAT refund per disabled employed per month shall be determined as four times of minimum monthly wage standard approved by relevant government authority.
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Q:
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Which items meet the requirement of ‘full amount refund’ policy?
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A:
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The items fulfilling the requirement of ‘full amount refund’ policy include:
Immediate refund of VAT levied in full amount for gold futures trading
Immediate refund of VAT levied in full amount for platinum trading
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Q:
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Which items meet the requirement of ‘proportional amount refund’ policy?
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A:
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The items fulfilling the requirement of ‘proportional amount refund’ policy include:
Immediate refund of 50% of VAT levied for New type wall material
Immediate refund of 50% of VAT levied for wind power
Immediate refund of 30% to 50% of VAT levied for products of resources comprehensive utilization and labour services
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Q:
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Which items meet the requirement of ‘excess amount refund’ policy?
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A:
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The items fulfilling the requirement of ‘excess amount refund’ policy include:
Immediate refund of actual VAT in excess of 3% for software enterprises
Immediate refund of actual VAT in excess of 3% for animation enterprises
Immediate refund of actual VAT in excess of 6% for maintenance service for aircraft
Immediate refund of actual VAT in excess of 3% for pipeline transportation
Immediate refund of actual VAT in excess of 3% for tangible movable property finance lease services
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FAQ
