ANNOUNCEMENT 22 May 2018

May 22nd, 2018 - The Chinese government announced the addition of a firm to a support scheme.

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

Ministry of Finance, May 22nd, 2018. (财关税〔2018〕8号 关于调整享受税收优惠政策天然气进口项目的通知)
http://gss.mof.gov.cn/zhengwuxinxi/zhengcefabu/201806/t20180620_2934925.html

Inception date: 22 May 2018 | Removal date: open ended
Still in force

Import incentive

On May 22nd, 2018, the Chinese Ministry of Finance announced that a firm based in Tianjin City, the North China Natural Gas Sales Center of China Petroleum & Chemical Corporation Natural Gas Branch, will be added to the roster of firms able to benefit from a preferential taxation policy on imported LNG available to certain key firms.

The firm will have an import quota of three million tonnes of LNG per year. It can import more than this, but further imports will not be eligible for the preferential treatment.

Please see related measures for full information on the policy.

AFFECTED SECTORS

 
Inception date: 22 May 2018 | Removal date: open ended
Still in force

Tax or social insurance relief

In May 2018, the Chinese State Taxation Administration released Caiguanshui 2018/8, which added one importing firm to the list of those allowed to import a certain amount of liquefied natural gas (LNG) tax-free into the PRC.

The firm, based in Tianjin, was allocated a tax-free quota of three million tonnes per year.

As well as an import incentive, this represents a firm-specific discriminatory preferential tax treatment for the firm.

The firm was eligible from the date of promulgation of the announcement.