财政部官宣，多个行业增值税优惠政策即将取消

Core Viewpoint - The article discusses the recent adjustments to value-added tax (VAT) policies in China, particularly the cancellation and modification of tax incentives for various industries, including wind power, nuclear power, and financing leasing, as part of a broader fiscal reform initiative aimed at standardizing tax incentives and increasing government revenue [3][16]. Summary by Sections Wind Power - The VAT exemption policy for onshore wind power, which allowed a 50% VAT refund on self-produced electricity sales since July 1, 2015, will be abolished starting November 1, 2025 [4][5]. - In contrast, a 50% VAT refund policy for offshore wind power will be maintained from November 1, 2025, to December 31, 2027, indicating government support for the still-developing offshore wind sector [4][5]. Nuclear Power - The VAT policy that allowed a phased refund for nuclear power plants will be discontinued for new projects approved after November 1, 2025. Existing projects will continue to benefit from the previous tax incentives until a specified transition period [7][8]. - This change reflects the maturity of the nuclear power industry, suggesting it no longer requires special tax support to compete fairly with other energy sources [8]. Financing Leasing - The VAT refund policy for financing leasing businesses, which allowed refunds for VAT burdens exceeding 3%, will be abolished on November 1, 2025 [9][12]. - This policy change is part of a broader effort to streamline tax regulations and reduce the complexity of the VAT system [12]. Aircraft Maintenance and Other Industries - The VAT exemption for aircraft maintenance services, which allowed refunds for VAT burdens exceeding 6%, will also be eliminated starting November 1, 2025 [13][14]. - Additional tax incentives for diamond trading, new wall materials, and coalbed methane extraction will be canceled, indicating a comprehensive approach to tax reform across various sectors [14][15]. Fiscal Reform Context - The adjustments to tax incentives align with the directives from the 20th National Congress of the Communist Party of China, emphasizing the need for standardized tax policies and improved fiscal health [16]. - The article notes that the cancellation of these tax incentives could help increase government revenue, which has been under pressure due to economic challenges [16].