11 Jan 2019
China Confirms Extension of Recycled Oil Tax Exemption Initiative
The tax relief on recycled mineral oil products is to be extended until 2023.
The move was announced in a recently-issued circular detailing the consumption tax exemption on products recycled from waste mineral oil (Cai Shui No. 105 ). In order to further promote environmental protection and the comprehensive use of resources, the Ministry of Finance and the State Administration of Taxation extended the policy, which has been in force since 2013, for a further five years (from 1 November 2018 to 31 October 2023).
Taxpayers may now apply for a refund if any related consumption tax payment was made prior to the implementation of the extension.
For further details (in Chinese), please access the following link: