The Ministry of Finance ("MOF") and the State Taxation Administration ("STA") released on May 18, 2022 the Announcement on Accelerating the Implementation of the Policy of Refunding Excess Input VAT Credits at the End of Periods.
It is clarified that the work towards refunding outstanding VAT credits to large companies will start ahead of schedule. It changed Paragraph 2, Article 2 of No.14 Announcement of the MOF and STA in 2022 from that "eligible large companies in manufacturing may apply for one-off refunds of outstanding VAT credits with the tax authorities from the tax declaration period in October 2022" into that "eligible large companies in manufacturing may apply for one-off refunds of outstanding VAT credits with the tax authorities from the tax declaration period in June, 2022." Prior to June 30, 2022, outstanding VAT credits will be refunded to large companies in a centralized manner on the basis of voluntary application of taxpayers.
Reference: http://szs.mof.gov.cn/zhengcefabu/202205/t20220518_3811434.htm