China Tax Agency Issues Updated Guidance on Tax Incentives for Health Epidemic

The Chinese State Administration of Taxation March 10 updated guidance on amendments to the tax incentives provided due to the current health epidemic. The update includes: 1) an extension of loss carry-forwards to businesses in affected industries to eight years; 2) VAT exemptions for providing public transportation services, living services, and courier delivery services for essential supplies; and 3) VAT refunds for the production of key epidemic prevention materials, from Jan. 1. [China, State Administration of Taxation, 03/10/20]

Reference:
View Announcement. View Updated Guidance.