16 March 2018
"Exemption, offset and refund" is a rule for VAT export refund in China. Exemption means exports managed by production enterprises or entrusted to foreign trade enterprises as agencies shall be exempted from the valued added; offset means exports as aforesaid shall be exempted from or refunded of the tax payment already made for raw materials, parts and components offsetting the payable tax payment of goods marketed domestically; refund means the amount of tax which should be offset is greater than the payable taxation and has not been completely offset, shall be.
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