Legislation roundup: R&D tax refund, insurance contracts, and Beijing housing loans

March 30, 2017 | BY

Katherine Jo &clp articles

The SAT has increased supervision of foreign R&D institutions' tax refund eligibility, the CIRC has improved scientific assessment standards for insurance contract liabilities, and Beijing's mortgage down payment percentage has been raised to the highest among Chinese cities

Tax

 

State Administration of Taxation, Measures for the Administration of the Refund of Value Added Tax on Chinese-Made Equipment Procured by Research and Development Institutions

国家税务总局研发机构采购国产设备增值税退税管理办法

 

If a foreign-invested research and development center ceases to be eligible for the refund of tax on the Chinese-made equipment procured by it, it shall carry out the procedures for the revocation of its tax refund record filing within 30 days from the date on which the conditions changed, failing which the matter shall be treated as if it had fraudulently secured qualifications for the refund of tax on Chinese-made equipment procured by it.

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