ANNOUNCED AS TEMPORARYNo
On the 27th of December 2016, an announcement was jointly released by three Chinese ministries (Ministry of Finance, State Administration of Taxation and General Administration of Customs), heralding the implementation of preferential tax policies for qualifying scientific, R&D and educational institutions.
According to the announcement, equipment and books required for the operations of the above-mentioned institutions that cannot be acquired in China will be exempted from import tariffs, as well as import-level VAT.
In terms of book imports, only a select few book import firms present on a list contained in the announcement will be able to benefit from the policy.
With this announcement, a previous policy from 2012 was repealed. The new one differs in the fact that both non-commercial and commercial entities can benefit from it, whereas before it was only non-commercial entities.
The policy will last for the duration of the 13th Five-Year Plan.
The tariff lines to which this intervention relate were released in a separate announcement. Please note, however, that the list is, by its own declaration, not exhaustive.