Announcement clarifying VAT matters concerning non-taxable transactions and other items
This announcement clarifies the VAT treatment of specified non-taxable transactions and related matters, including circumstances in which input VAT may be credited.
Businesses should review the nature of each transaction, keep supporting documents, and apply the rules consistently in invoicing and VAT returns.
The official Chinese announcement remains the controlling text.
Official source: State Taxation Administration; Shandong Provincial Tax Service
