VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
The Ministry of Finance of China and the State Taxation Administration of China have jointly announced that sponsors of the Beijing 2022 Winter Olympics and Paralympics Games will be exempted of value added tax for some of their services to the Beijing 2022 Winter Olympics and Paralympics Games, according to a report on Chinanews.com on January 29.
The services refer to those that are explicitly included in sponsorship contracts related to the Beijing 2022 Winter Olympics and Paralympics Games and test competitions, provided by sponsors and their subsidiaries according to their contracts. These services need to be provided on a free basis.
The first group of sponsoring companies and affiliated subsidiaries that can benefit from this regulation have been announced by the Ministry of Finance and the State Taxation Administration.
The regulation applies to services that were executed as early as July 12, 2017 and after. For those services that have been charged VAT, the amount of taxation can be equally deducted from future taxation provided that the relevant VAT invoice issued for such tax can be retrieved.
Reference: chinanews.com
Proofread by Raymond Fitzpatrick
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023 12:27
Related coverage
New ice world opened for promoting Beijing's bid
20 Dec 2014
China to invite foreign sports experts for 2022 Winter Olympics
27 Sep 2017
Zhangjiakou gearing up for 2022 Winter Games
21 Aug 2015
Hebei Province Governor meets with Finland ambassador to promote winter sports collaboration
11 May 2018
2022 Olympic Games estimated to generate value of ¥300 billion
11 Aug 2015
More from Yutang Sports
SportAccord 2024 makes a memorable return to Birmingham
13 Apr 2024
Yutang Sports Appointed as the Official Media Partner of the Future of Sport
14 Jun 2023
Leading sports charity, Podium Analytics, announces Trusted Research Environment for Global Sport
11 Apr 2024
SportAccord calls for the power of sport to lead anti-abuse actions
17 Apr 2024
Leading legal minds tackle athlete representation and rules for transgender athletes at LawAccord
16 Feb 2024
Yutang Sports
loading...