2022 VAT Policy in the Greater Bay Area

To support the development of the Guangdong-Hong Kong-Macao Greater Bay, the Ministry of Finance (MOF), State Taxation Administration (STA) and General Administration of Customs (GAC) jointly released Caishui [2020] No. 48 to specify the VAT policies in the Greater Bay Area.


According the Circular 48, insurance companies registered in Guangzhou will be exempted from value-added tax for the income from the provision of international shipping insurance services to companies registered in the Nansha Free Trade Zone. Additionally, for container goods departing from Guangzhou Nansha Bonded Port Area and Shenzhen Qianhai Bonded Port, the port of departure tax refund policy will be implemented.


Previously implemented and effective until December 31, 2023.


Source: http://www.cnbayarea.org.cn/policy/policy%20release/policies/content/post_302062.html

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