What do you mean by tax refund?

1, Tax Refund, its scientific name is VAT Refund Concession, which means that the input VAT that cannot be deducted now and can be deducted later will be refunded in full in advance.

2. The so-called tax allowance can be simply understood as the tax allowance when the input tax amount is greater than the output tax amount. Input tax refers to the value-added tax paid by taxpayers when they purchase goods, intangible assets or real estate. Output tax refers to the value-added tax charged at the time of sales. Generally speaking, there are many reasons for the formation of tax exemption, such as concentrated investment and long commodity production cycle.

3. VAT refund is an important measure to implement the large-scale tax reduction and fee reduction policy. The implementation of the tax rebate policy will help ease the financial pressure of enterprises in Shandong Province, support enterprises to expand investment, promote the upgrading of technology and equipment, effectively stimulate market vitality and promote high-quality economic development.