Sunrise New Energy Announced the VAT Rebate of Approximately $4.35 Million, Enhancing the Company’s Cash Flow
ZIBO, China, July 12, 2023 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that Sunrise (Guizhou) New Energy Materials Co., Ltd. has received 31.35 million yuan (approximately $4.35 million) of VAT (Value Added Tax) rebate for the financial year 2022 on June 16, 2023.
- ZIBO, China, July 12, 2023 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that Sunrise (Guizhou) New Energy Materials Co., Ltd. has received 31.35 million yuan (approximately $4.35 million) of VAT (Value Added Tax) rebate for the financial year 2022 on June 16, 2023.
- 14, 2022)" and “The Announcement of the Ministry of Finance and the State Administration of Taxation on Expanding the Industry Scope of the Policy of Full Refund of VAT Allowances (No.
- 21 in 2022)" which are formulated and issued by the Ministry of Finance and the State Administration of Taxation of the People's Republic of China.
- According to the relevant provisions of the Enterprise Accounting Standards, the refund of the value-added tax will enhance the the company's cash flow.