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Transfer of VAT Credit Balances for Restructuring Transactions
Transfer of VAT Credit Balances for Restructuring...
China alert - Issue 27, December 2012
On 13 December 2012 the State Administration of Taxation (SAT) issued Announcement 55 [2012] to confirm that when an asset restructuring occurs, any VAT credit balance associated with those assets may be transferred to the purchaser. This Announcement is beneficial to taxpayers because it allows the inherent value of accrued VAT credit balances to be realized by a purchaser after an asset restructuring occurs.