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China new superdeduction for VAT

The Ministry of Finance and the State Administration of Taxation have jointly issued the “Announcement on Clarifying the Policies on Value – Added Tax Super-deduction for the Life Service Sector” (Announcement of the MoF and SAT [2019] no. 87) on September 30th 2019, related to the 15% super-deduction policy for taxpayers in the life service businesses.