Company: XXC
Filing Date: 2025-08-05
Form Type: F-1/A
Source: 0001213900-25-071711
Chunk: 190

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-08-05
Form: F-1/A
Chunk 190
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 by the State Council on December13, 1993 and amended on November10, 2008, February6, 2016 and November19, 2017, and the Implementation Rules for the Interim Regulations on Value -AddedTax of the People’s Republic of China, which was promulgated by the MOF on December25, 1993 and amended on December15, 2008 and October28, 2011, entities or individuals engaging in sale of goods, provision of processing services, repairs and replacement services or import of goods within the territory of the PRC shall pay value -addedtax, or the VAT. Unless provided otherwise, the rate of VAT is 17% on sales and 6% on the services. On April4, 2018, MOF and SAT jointly promulgated the Circular of the Ministry of Finance and the State Administration of Taxation on Adjustment of Value -AddedTax Rates, or the Circular32, according to which (i) for VAT taxable sales acts or import of goods originally subject to VAT rates of 17% and 11% respectively, such tax rates shall be adjusted to 16% and 10%, respectively; (ii) for purchase of agricultural products originally subject to tax rate of 11%, such tax rate shall be adjusted to 10%; (iii) for purchase of agricultural products for the purpose of production and sales or consigned processing of goods subject to tax rate of 16%, such tax shall be calculated at the tax rate of 12%; (iv) for exported goods originally subject to tax rate of 17% and export tax refund rate of 17%, the export tax refund rate shall be adjusted to 16%; and (v) for exported goods and cross -bordertaxable acts originally subject to tax rate of 11% and export tax refund rate of 11%, the export tax refund rate shall be adjusted to 10%. Circular 32 became effective on May1, 2018 and shall supersede existing provisions which are inconsistent with Circular 32. Since January1, 2012, the MOF and the SAT have implemented the Pilot Plan for Imposition of Value -AddedTax to Replace Business Tax, or the VAT Pilot Plan, which imposes VAT in lieu of business tax for certain “modern service industries” in certain regions and eventually expanded to nation -wideapplication in 2013. According to the Implementation Rules for the Pilot Plan for Imposition of Value -AddedTax to Replace Business Tax released by the