Five authorities including the Ministry of Finance, the General Administration of Customs and the State Taxation Administration recently issued a circular to release the Administrative Measures for Tax Policies on Imported Major Technological Equipment, with immediate effect.
According to the regulation, eligible companies and nuclear project owners can enjoy tariff and value-added tax exemptions when they import some key parts, components and materials in order to manufacture major technological equipment or products. In the meantime, the Circular about Adjusting the Import Tax Policies for Major Technological Equipment and the Circular about Adjusting the Catalogue and Provisions on the Import Tax Policies for Major Technological Equipment