Its scientific name is "VAT Refund Preference", which means that the "input" VAT that cannot be deducted now and can be deducted later will be fully refunded in advance.

Legal basis:

Announcement of the Ministry of Finance and State Taxation Administration of The People's Republic of China on Defining the Final VAT Refund Policy for Advanced Manufacturing Industry Article 1 Since April 20021year, taxpayers of advanced manufacturing industry who meet the following conditions may apply to the competent tax authorities for refund of incremental tax credits from May 20021year and thereafter:

1. Incremental tax exemption is greater than zero;

2. The tax credit rating is Grade A or Grade B;

3. There is no fraudulent tax refund, export tax refund or false issuance of special VAT invoices within 36 months before applying for tax refund;

4. Not being punished by the tax authorities for tax evasion more than twice within 36 months before applying for tax refund;

5. Since April 20 19, 1 year, you haven't enjoyed the policies of "take it back immediately" and "take it back first".