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China’s Animation Industry to Enjoy Preferential VAT Terms

China’s animation sector is set to benefit from a series of extended preferential VAT entitlements, according to a recent statement jointly issued by the Ministry of Finance and the State Administration of Taxation.

Overall, the statement details three specific measures:

  • For the period 1 January 2018 to 30 April 2018 during which the VAT rate of 17% applied to the sales of proprietary animation software by animation companies which are general taxpayers, the refund-upon-collection entitlement applies to all VAT paid beyond 3%.
  • For the period 1 May 2018 to 31 December 2020 during which the VAT rate of 16% applies to the sales of proprietary animation software by animation companies which are general taxpayers, the refund-upon-collection entitlement will apply to all VAT paid beyond 3%.
  • All exported animation software will be deemed VAT-free. 

For further details (in Chinese), please visit the following link:

Notice on Extension of VAT Policies for Animation Industry (Cai Shui [2018] No. 38)

Content provided by Picture: HKTDC Research
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