Issued by:   Ministry of Finance, General Administration of Customs, State Taxation Administration

Issue No.:   Announcement of the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration No. 10, 2025

Issue Date:   October 17, 2025

Effective Date:    November 1, 2025

Links:   https://fgk.chinatax.gov.cn/zcfgk/c102416/c5243708/content.html

The Announcement adjusts the value-added tax (VAT) refund policies for industries such as wind power and nuclear power units, as detailed below:
The preferential VAT policy of "levy-and-refund" for onshore wind power has been abolished. The 50% levy-and-refund policy for offshore wind power will remain in effect, applicable from November 1, 2025, to December 31, 2027.
The value-added tax policy for nuclear power units has been adjusted. Newly approved projects after November 1, 2025, will no longer be eligible for VAT preferential policies. For projects approved before this date, the "levy-first-and-refund-later" policy will be implemented based on the operation dates, with refund rates ranging from 50% to 75%. 
The Announcement also annuls specified documents and provisions, eliminating the VAT refund policies for specific industries, including aircraft maintenance services and financial leasing.