Changing times in China
Changing times in China
- 2003
- Plant and Machinery Newsletter February 2003, 3(1) .
Explains the changes to China's importation laws. Under a new notice, which came into effect on 1 October 2002, foreign investors will have to pay duty and VAT first and claim a refund later. If the export status is confirmed, foreign investors will be able to claim the tax refund over a period of five years at 20% per annum. However this could be worrying for foreign investors' cash flow.
CHINA
FOREIGN INVESTMENT
IMPORT VAT
PLANT AND MACHINERY
TAX REFUNDS
CASH FLOW
TAX EXEMPTIONS
Explains the changes to China's importation laws. Under a new notice, which came into effect on 1 October 2002, foreign investors will have to pay duty and VAT first and claim a refund later. If the export status is confirmed, foreign investors will be able to claim the tax refund over a period of five years at 20% per annum. However this could be worrying for foreign investors' cash flow.
CHINA
FOREIGN INVESTMENT
IMPORT VAT
PLANT AND MACHINERY
TAX REFUNDS
CASH FLOW
TAX EXEMPTIONS