Core Points - The article discusses the requirements for taxpayers engaged in processing trade and the recent adjustments made to the VAT declaration process for these businesses [2][3][5] Group 1: Processing Trade and VAT Declaration - In 2024, China's processing trade export value reached 50,201 billion yuan, reflecting a 2.4% increase from the previous year [2] - Taxpayers involved in processing trade must accurately report the value of bonded materials used in their export goods, as per the relevant tax policies [2][3] - The State Administration of Taxation issued Announcement No. 2 in 2025, optimizing the VAT declaration process for taxpayers engaged in processing trade [3][5] Group 2: Adjustments and Compliance - The new regulations require taxpayers to dynamically adjust the reported value of bonded materials when discrepancies arise between the total amount used and the amounts reported in previous tax periods [3][5] - Taxpayers must ensure accurate accounting of bonded materials and report the corresponding amounts during export declarations [3][5] - The announcement also emphasizes the importance of compliance, stating that any fraudulent activities related to customs declarations will be subject to legal penalties [7]