The Ministry of Finance (MOF), General Administration of Customs, and State Taxation Administration (STA) jointly issued Caiguanshui [2024] No. 10 (Circular 10) on May 9th , 2024, extending the preferential tax policies for imported exhibits previously outlined in Circular Caiguanshui [2023] No. 5 (Circular 5).
Key points of the preferential tax policies:
- Preferential tax treatments: sales of imported exhibits within the duty-free quota during the CIEF 2024 and 2025 will be exempt from import duties, import-level Value-added Tax and Consumption Tax;
- Eligible imported exhibits: the scope of exhibits eligible for the preferential policies remains the same as those listed in Circular 5. Notably, certain imported goods such as tobacco, alcohol and automobiles do not qualify for these exemptions.