ANNOUNCEMENT 30 Mar 2010In March 2010, the government of China announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
On 30 March 2010, the Ministry of Finance, General Administration of Customs and State Administration of Taxation issued the "Notice about Carrying out the Pilot Program on Export Tax Refunds for the Leased-financed Vessels in Tianjin" (Caishui'2010'No.24).
According to this Notice, the value added tax on the exported vessel through financial lease shall be exempted and the tax paid under the item of input tax at the time of purchase shall be refunded. All consumption taxes paid on the taxable consumer goods(export leasing purpose only) shall be refunded.