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China To Expand Tax Refunds To Retails, Catering: Yicai

CHINA PRESS
MNI (Singapore)

China will extend value-added tax refunds to seven new sectors including wholesale and retail sales, agriculture, accommodation and catering to facilitate the cash flow of enterprises and help stabilise employment, Yicai.com reported citing a statement by the Ministry of Finance on Monday. This new round of tax refunds will total CNY142 billion, starting July 1 and aims to be completed by end-July, Yicai said. China's value-added tax refunds are expected to total CNY1.64 trillion this year.

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