ANNOUNCEMENT 08 Jul 2019
July 8th, 2019 - The Chinese government released a list of firms eligible for tax-free imports.
NUMBER OF INTERVENTIONS
PRC Ministry of Finance, July 8th, 2019. (财政部 海关总署 税务总局公告2019年第79号 关于享受国有公益性收藏单位进口藏品免税政策的第三批国有公益性收藏单位名单的公告)
On July 8th, 2019, the Chinese Ministry of Finance released a list of firms designated as beneficiaries of a tax-free import scheme for cultural artifacts started in 2009 (see related act).
This third edition of the list contained 50 firms that were newly eligible for the treatment, allowing them to import cultural artifacts with no associated taxes.
In July 2019, three Chinese ministries released the third list of firms deemed eligible for tax-free imports of cultural heritage artifacts under a 2009 scheme.
While this constitutes an import tax reduction for the 50 firms included in the list, it also represents a selective preferential tax treatment for this industry.