ANNOUNCEMENT 01 Jan 2011In January 2011, the government of China announced a change in import duties.
NUMBER OF INTERVENTIONS
Chinese Ministry of Finance (MOF):
On 4 August 2011, the Chinese Ministry of Finance (MOF), the General Administration of Customs (GAC) and the General Administration of Taxation (GAT) jointly announced the Notice on Relevant Taxation Policies for Through Implementation of Western Areas Development Strategy (CaiShui '2011' NO.58, the 'Notice'). The purpose is to provide more favorable taxation policies for western areas of the nation and promoting development in western areas of China.
In accordance with this Notice, several favorable taxation treatments will be provided in the western areas of China, including Sichuan Province, Yunnan Province, Tibet Autonomous Region, Shannxi Province, Gansu Province, Ningxia Hui Autonomous Region, Qinghai Province, Xinjiang Uygur Autonomous Region, Xinjiang Production and Construction Corps., Inner Mongolia Autonomous Region, Guangxi Zhuang Autonomous Region, Xiangxi Tujia and Miao Autonomous Prefecture (in Hunan Province) , Enshi Tujia and Miao Autonomous Prefecture (in Hubei Province) and Yanbian Korean Autonomous Prefecture (in Jilin Province).
For domestic enterprises and foreign invested enterprises investing in projects specified in Encouraging Category and Priority Category, any equipment imported for these projects will be exempted from import duty.