China MOF Clarifies New VAT Refund Policy for Offshore Wind, Nuclear Power Generation

The Chinese Ministry of Finance Oct. 17 issued Announcement No. 10, clarifying policy changes regarding VAT refunds for offshore wind and nuclear power generation. The announcement includes that: 1) taxpayers selling self-produced electricity generated from offshore wind power can claim a 50 percent VAT refund immediately upon collection, from Nov. 1, 2025, until Dec. 31, 2027; 2) commercial nuclear power units in operation before Oct. 31 are still subject to the relevant VAT provisions under Notice No. 38/2008; 3) commercial nuclear power units approved, but not in operation, before Oct. 31 can claim the 50 percent refund for 10 consecutive ...