ANNOUNCEMENT 21 Mar 2019

March 21st, 2019 - The Chinese government announced the expansion of a support policy.

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

PRC State Taxation Administration, March 21st, 2019. (财关税〔2019〕12号 关于调整部分项目可享受返税政策进口天然气数量的通知)
http://www.chinatax.gov.cn/n810341/n810755/c4199178/content.html

Inception date: 01 Jan 2018 | Removal date: open ended
Still in force

Import incentive

On March 21st, 2019, the Chinese State Taxation Administration announced that a preferential tax rebate policy for certain firms importing LNG would be expanded thus:

  • For 2018 (retroactively), five of the projects eligible under the scheme had their import quotas increased to six million tonnes, with seven million for sixth project in Zhejiang;
  • For 2019 some of the projects had their quotas adjusted thus:
    • Zhejiang: 5.472 Mt
    • Tangshan: 546.6 Mt
    • Tianjin floating: 353.5 Mt
    • Shanghai: 398.5 Mt

Please see related acts for more information on this programme.

AFFECTED SECTORS

 
Inception date: 01 Jan 2018 | Removal date: open ended
Still in force

Tax or social insurance relief

In March 2019, the Chinese government released Caiguanshui 2019/12, which announced the expansion of a preferential tax policy for certain importers of liquefied natural gas (LNG).

The enumerated firms are allocated a quota of tax-free imports under the scheme, which this announcement expanded (see other intervention for precise details).

This constitutes an increased firm-specific preferential tax policy for these firms.

The increase in quotas went into force retroactively, from January 2018.