Not long ago, the State Administration of Taxation issued an announcement on the revision of the "Measures for the Administration of Value-Added Tax Refunds for R&D Institutions Purchasing Domestic Equipment" (hereinafter referred to as the "Measures"), and clearly stated that it will be implemented from January 1, 2024.
The Measures clearly state that in order to encourage scientific research and technological development and promote scientific and technological progress, before December 31, 2027, the VAT will continue to be fully refunded for domestic R&D institutions and foreign R&D centers that purchase domestic equipment.
The declaration period for tax refunds for R&D institutions purchasing domestic equipment is the VAT declaration period from the first day of the month following the date of purchasing domestic equipment (based on the date of invoice issuance) to April 30 of the following year.
According to the "VAT Refund Management Measures for R&D Institutions Purchasing Domestic Equipment" previously issued by the State Administration of Taxation, the following institutions will refund VAT for purchasing domestic equipment. Among them, for the total investment, total R&D investment, annual R&D expenditure, full-time research and experimental development personnel, and equipment, everyone needs to strictly follow the relevant provisions of Announcement No. 41 of 2023 of the Ministry of Finance, the Ministry of Commerce, and the State Administration of Taxation to judge and define.
