China releases upgraded tax policy guidelines to boost foreign trade

Source:China Sport ShowRelease time:23-Jan-2024Clicks:

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China has released updated tax policy guidelines aimed at stabilising foreign investment and foreign trade, according to the State Taxation Administration. These guidelines are designed to foster a more favourable tax environment for the growth and development of these sectors.

The revised guidelines comprise 51 items, focusing on two key areas: foreign investment and foreign trade.

Of the 51 measures, 19 are dedicated to stabilising foreign trade. These include policies related to the export of goods and services, value-added tax regulations on cross-border taxable activities, strategies for new forms of foreign trade, and streamlined processes for export tax rebates and exemptions, according to Chinese media reports.

The remaining 32 measures target the stabilisation of foreign investment. These policies are specifically designed to encourage more foreign capital inflow into China.