Global Trade Alert

On 15 July 2011, the Chinese Ministry of Finance (MOF), Ministry of Industry and Information Technology (MIIT), General Administration of Taxation (GAT) and General Administration of Customs (GAC) jointly announced the Notice on Adjusting Import Tariff on Key Technological Units such as Third-generation Nuclear Power-generating Units (Notice, CaiGuanShui '2011'NO.45) .
 
Importing raw materials and units for the purpose of manufacturing the key technological units will be exempted from import tariff and import value-added taxation, details as follows:
 
Ř From 1 January 2010, qualified domestic enterprises that import necessary key units, raw materials for manufacturing third-generation nuclear power-generating units shall be exempted from import tariff and import value-added taxation; qualified enterprises with importing applicable units and raw materials within the period from 1 January 2010 to 31 December 2011 entitled with these favorable treatment shall submit application in accordance with Notice, CaiGuanShui '2009'NO.55;
Ř From 1 July 2011, qualified domestic enterprises importing necessary key units, raw materials for manufacturing crude oil refining equipment (with annual capacity at ten-million tons), natural gas pipeline transportation equipment, large vessels equipment, complete cotton spinning equipment shall be exempted from import tariff and import value-added taxation;
Ř From 1 January 2012, qualified domestic enterprises importing necessary key units, raw materials for manufacturing urban rail transit facilities will be exempted from import tariff and import value-added taxation.