30 June 2023
The State Taxation Administration (“the authorities”) issued the “Guidelines for Tax Incentives Policy Supporting Education Industry Development” (“the Guidelines”) on 30 June 2023. The authorities announced a series of tax incentives policies supporting the development of education industry, encouraging social forces to actively invest in the education sector, including exempting value-added tax on income generated from providing academic education services for overseas educational institutions and domestic schools engaged in Sino-foreign cooperative education.