|Circular Number||Issuance Date||Effective Date||Topic||What is new?|
|SAT Announcement  No. 31 (“Announcement 31”)||2019-09-16||2019-09-16 for Issue 1 and 2 in the very right column 2019-10-01 for Issue 3 to 6 in the very right column||Several clarifications on VAT treatments||Announcement 31 clarifies the following VAT issues:
|Announcement  No. 84, jointly released by the State Administration of Taxation (“SAT”), the Ministry of Finance (“MoF”)||2019-08-31||2019-08-31||Refund of incremental uncredited input VAT applicable to qualified taxpayers in advanced manufacturing industries||Starting from 1 June 2019, qualified taxpayers in advanced manufacturing industries can apply for refund of incremental uncredited input VAT after July 2019, if all the following requirements are met:
|PRC President Decree No. 33||2019-08-26||2020-09-01||PRC Resource Tax Law||On 26 August 2019, PRC Resource Tax (“RT”) Law was passed. The law will come into force from 1 September 2020.
The PRC RT Law will replace the existing PRC Interim Regulation of RT (“RT Interim Regulation”). The PRC RT Law inherits the general taxation structure and taxation burden as under the RT Interim Regulation, while making adjustments to rules that are no longer applicable to the latest economic development of China.
Key changes brought by the PRC RT Law are as follows: