The Ministry of Finance and the State Administration of Taxation recently issued the Announcement about Value-added Tax Deduction Policies for the Life Service Industry. According to the announcement, from October 1, 2019 to December 31, 2021, taxpayers of life services can get an additional 15% deduction on input value-added tax to offset their taxable income.
Taxpayers of life services are taxpayers whose sales revenue from life services accounts for more than 50% of their total sales revenue. The scope of life services is defined according to the Notes to Sales Services, Intangible Assets and Immovable Properties.