VAT policy extension for R & D institutions

The Ministry of finance, the Ministry of Commerce and the State Administration of Taxation announced on December 7 to continuously implement the policy of value-added tax on equipment purchased by R & D institutions until December 31, 2020, that is, domestic R & D institutions and foreign R & D centers will return the full amount of value-added tax on domestic equipment purchased. R & D institutions include: In the process of the reform of the scientific and technological system, enterprises are transformed into institutions engaged in scientific research and technological development; National Engineering Research Center approved by the nationalRead More →

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