November 26 2020

Three Authorities Unveil Preferential VAT Policies for Insurance and Export Companies at GBA

Announcement by Multi-authority

The Ministry of Finance, the General Administration of Customs and the State Taxation Administration recently issued the Circular about Implementing Value-added Tax Policies at the Guangdong-Hong Kong-Macau Greater Bay Area.

From October 1, 2020 to December 31, 2023 insurance companies registered in Guangzhou will be exempted from value-added tax for revenues received from providing international shipping insurance to enterprises registered in Nansha free trade zone; from October 1, 2020 eligible export companies can get tax rebate for container goods shipped to foreign markets from Nansha bonded port zone and Qianhai bonded port zone.