ANNOUNCEMENT 07 Nov 2013

In November 2013, the government of China announced a change to the import-specific domestic duties.

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

PRC State Council Tariffs and Tax Standards Commission, December 7th, 2013. (财关税[2013]74号 关于调整进口天然气税收优惠政策有关问题的通知)
http://gss.mof.gov.cn/zhengwuxinxi/zhengcefabu/201311/t20131120_1014100.html


Ibid., December 26th, 2014. (财关税[2014]67号 关于调整进口天然气税收优惠政策有关问题的通知)
http://gss.mof.gov.cn/zhengwuxinxi/zhengcefabu/201501/t20150119_1181615.html

Inception date: 07 Nov 2013 | Removal date: 07 Dec 2014
Still in force

Internal taxation of imports

On 7 November 2013, the Chinese Ministry of Finance issued Caiguanshui 2013/74 extending the existing preferential import tax policies for three liquified natural gas (LNG) projects (cf. related acts).

With the new announcement in place, the new Sino-Myanmar gas pipeline, the new Zheijang LNG project and the Zhuhai (Guangdong Province) LNG project will receive increased quotas which can benefit from a VAT refund.

The announcement came into force on the day of its issuance. It was repealed on December 26th, 2014 by Caiguanshui 2014/67.

AFFECTED SECTORS

 
Inception date: 07 Nov 2013 | Removal date: 07 Dec 2014
Still in force

Tax or social insurance relief

In November of 2013, the PRC State Council Tariffs and Tax Standards Commission released an announcement (Caiguanshui 2013/74), which extended a preferential import policy on liquefied natural gas (LNG) to include three new projects.

While the policy does encourage the import of LNG, it also constitutes a firm-specific preferential tax policy.

An announcement later, on December 26th, 2014, canceled this policy.

Please see related acts for more information on the scheme as a whole.