The Ministry of industry and information technology, the General Administration of customs, the State Administration of Taxation and other five departments printed and distributed the measures for the administration of import tax policies for major technical equipment on 13th January, which shall be implemented as of the date of release. Next the Ministries will formulate the catalogue of major technical equipment and products supported by the state for development and the catalogue of major technical equipment and products for import of key parts and raw materials. The related tariff and import value-added tax will be exempted.
Enterprises that have obtained the tax exemption qualification shall go through the tax exemption formalities in accordance with the administrative measures for the reduction and exemption of import and export goods of the Customs (Order No. 179 of GAC).
The Ministry of industry and information technology, together with the Ministry of finance, the General Administration of customs, the State Administration of Taxation and the energy administration, shall formulate the catalogue of major technical equipment and products that are not duty-free for import. The import duties below shall be imposed for the self-use equipment, accessories or spare parts mentioned in the catalogue:
- Domestic investment projects and foreign investment projects encouraged by the state;
- Loans from foreign governments and loans from international financial organizations;
- Processing trade enterprises with imported equipment provided by foreign investors at no price;
- Foreign investment projects in advantageous industries in the central and western regions;
- According to the notice of the General Administration of Customs on Further Encouraging Foreign Investment in relevant import tax policies (SGS [1999] No. 791), foreign-funded enterprises and research centers established by foreign investment use their own funds to carry out technological transformation projects.
The Ministry of industry and information technology shall, in accordance with these measures, separately formulate and promulgate the detailed rules for the implementation of the measures for the administration of import tax policies on major technical equipment