China to accelerate VAT credit rebates for small firms – finance ministry

BEIJING (Reuters) – China’s finance ministry and tax regulator on Wednesday said they will accelerate Value Added Tax (VAT) credit rebates for small firms.

Medium-sized manufacturing firms are allowed to claim VAT credit rebates starting from May, earlier than the previously announced starting time of July, the Ministry of Finance and the State Taxation Administration said in a statement.

(Reporting by Ellen Zhang and Ryan Woo; Editing by Andrew Cawthorne)