According to joint notifications from the Ministry of Finance, the National Development and Reform Commission, the General Administration of Customs, and the State Administration of Taxation, China will implement preferential import tax policies for key areas of major technical equipment, and some of these products' import tariffs and import value-added tax will be collected first.
The Ministry of Finance, the National Development and Reform Commission, the General Administration of Customs and the State Administration of Taxation jointly issued the "Notice on Implementing the Several Opinions of the State Council on Accelerating the Rejuvenation of the Equipment Manufacturing Industry Regarding Import Taxation Policies" recently, clarifying that the major technical equipment industry will enjoy preferential import taxation. To improve the core competitiveness and independent innovation capabilities of Chinese enterprises.
The "key areas" have specific meaning notices that the Department of State of the People's Republic of China is in the key areas identified by the State Council as having a significant effect on promoting the sustainable development of the national economy and a major technological equipment that has a positive effect on structural adjustment, industrial upgrading, and corporate innovation. The Development and Reform Commission, the General Administration of Customs, and the State Administration of Taxation have formulated special import tax policies.
The four ministries made it clear that the so-called “key areas for major technical equipment†mainly refers to the 16 areas identified by the State Council that have a significant effect on promoting the sustainable development of the national economy and have positive effects on structural adjustment, industrial upgrading, and corporate innovation. In these areas, China will levy forward the import duties and value-added tax on imports of certain key components and parts that domestic enterprises can import for the development and manufacture of these equipment and raw materials that cannot be produced domestically. Tax refunds are generally treated as national investments and converted into state capital funds, which are mainly used for the development and production of new products for enterprises and the building of independent innovation capabilities.
The tax rebate transfer to state capital notification also emphasizes that the tax refund is generally treated as a national investment and transferred to the state capital, which is mainly used for the development and production of new products for enterprises and capacity building for independent innovation.
In addition, the Ministry of Finance will also consult related departments, and on the basis of a detailed understanding of the domestic and overseas development and manufacturing conditions, supply and demand conditions, and key domestic production levels of key components and raw materials for all types of major technical equipment, the specific items for each field of major equipment will be specified. The specific contents of the import tax policy include the specific specifications and requirements for the major equipment that enjoys the policy, the scope of the key spare parts and components that need to be imported to manufacture the equipment, and the range of domestic raw materials that cannot be produced, and the financial treatment of tax refunds. These contents will be announced and implemented by the Ministry of Finance after consulting related departments.
After the special import tax policies are announced, relevant key technical equipment manufacturers may require key spare parts and raw materials within the import policy, and may apply to the Ministry of Finance to enjoy preferential tax policies for imports through the local people's governments at the locality where the enterprises are located or the financial department at the same level. Applications; Central enterprises submit applications directly to the Ministry of Finance.
It is reported that the Ministry of Finance will, within 40 working days of receiving the application documents, respond to the application of the enterprise to meet the policy's tax refund conditions. For enterprises that meet the conditions for tax rebate, the Ministry of Finance shall issue a confirmation letter on tax rebate for major equipment manufacturing enterprises, and shall provide the time limit for the transfer of tax refunds to state capital funds.
The Ministry of Finance’s notice on the implementation of inspectors emphasized that relevant major technical equipment manufacturers should independently declare their goods when importing goods listed on the tax rebate catalog for special import policies. The financial ombudsman's office in each locality of the Ministry of Finance is responsible for supervising and inspecting the implementation of the transfer of tax rebates for enterprises to increase state capital.
The notice requires that refundable tax refunds for frauds, alterations, bribes, or other illegal means taken by a company should be recovered and handled in accordance with the provisions of the "Customs Law of the People's Republic of China" and other relevant laws and regulations. Constitute a crime, be held criminally responsible.
It is understood that at the end of each year after the implementation of the tax rebate preferential policy, the Ministry of Finance will, in conjunction with the Development and Reform Commission, the General Administration of Customs, the State Administration of Taxation and other departments, timely adjust the tax rebate products for each special policy of the next year according to the application of enterprises and the effect of the implementation of policies. table of Contents.
Links to 16 key technical equipment key areas Category I. Large-scale clean and high-efficiency power generation equipment: Million-kilowatt nuclear power unit, supercritical thermal power unit, gas-steam combined cycle unit, integrated coal gasification gas-steam combined cycle unit, large circulating fluidized bed Boilers, large-scale hydropower generating units and pumped-storage hydropower generating units, large air-cooled power station units, and high-power wind power generators and other new energy equipment.
Second, UHV power transmission and transformation equipment: 1000 kV UHV AC and ± 800 kV DC power transmission complete sets of equipment, 500 kV AC and DC and 750 kV AC power transmission and transformation of key equipment.
Third, large-scale petrochemical equipment: million tons of large-scale complete sets of equipment and paraxylene (PX), terephthalic acid (PTA), polyester complete sets of equipment.
Fourth, large-scale coal chemical equipment.
Fifth, large-scale sheet hot and cold continuous rolling complete sets of equipment and coating processing complete sets of equipment.
Sixth, large-scale coal underground mining, lifting and washing equipment and large-scale open-pit mining equipment.
VII. Large-scale ships and marine engineering equipment: large-scale high-tech and high added value such as large-scale offshore petroleum engineering equipment, 300,000 tons of ore and crude oil tanker, FPSO, 10000 or more container ships, and LNG carrier. Ships and high-power diesel engines and other ancillary equipment.
The Ministry of Finance, the National Development and Reform Commission, the General Administration of Customs and the State Administration of Taxation jointly issued the "Notice on Implementing the Several Opinions of the State Council on Accelerating the Rejuvenation of the Equipment Manufacturing Industry Regarding Import Taxation Policies" recently, clarifying that the major technical equipment industry will enjoy preferential import taxation. To improve the core competitiveness and independent innovation capabilities of Chinese enterprises.
The "key areas" have specific meaning notices that the Department of State of the People's Republic of China is in the key areas identified by the State Council as having a significant effect on promoting the sustainable development of the national economy and a major technological equipment that has a positive effect on structural adjustment, industrial upgrading, and corporate innovation. The Development and Reform Commission, the General Administration of Customs, and the State Administration of Taxation have formulated special import tax policies.
The four ministries made it clear that the so-called “key areas for major technical equipment†mainly refers to the 16 areas identified by the State Council that have a significant effect on promoting the sustainable development of the national economy and have positive effects on structural adjustment, industrial upgrading, and corporate innovation. In these areas, China will levy forward the import duties and value-added tax on imports of certain key components and parts that domestic enterprises can import for the development and manufacture of these equipment and raw materials that cannot be produced domestically. Tax refunds are generally treated as national investments and converted into state capital funds, which are mainly used for the development and production of new products for enterprises and the building of independent innovation capabilities.
The tax rebate transfer to state capital notification also emphasizes that the tax refund is generally treated as a national investment and transferred to the state capital, which is mainly used for the development and production of new products for enterprises and capacity building for independent innovation.
In addition, the Ministry of Finance will also consult related departments, and on the basis of a detailed understanding of the domestic and overseas development and manufacturing conditions, supply and demand conditions, and key domestic production levels of key components and raw materials for all types of major technical equipment, the specific items for each field of major equipment will be specified. The specific contents of the import tax policy include the specific specifications and requirements for the major equipment that enjoys the policy, the scope of the key spare parts and components that need to be imported to manufacture the equipment, and the range of domestic raw materials that cannot be produced, and the financial treatment of tax refunds. These contents will be announced and implemented by the Ministry of Finance after consulting related departments.
After the special import tax policies are announced, relevant key technical equipment manufacturers may require key spare parts and raw materials within the import policy, and may apply to the Ministry of Finance to enjoy preferential tax policies for imports through the local people's governments at the locality where the enterprises are located or the financial department at the same level. Applications; Central enterprises submit applications directly to the Ministry of Finance.
It is reported that the Ministry of Finance will, within 40 working days of receiving the application documents, respond to the application of the enterprise to meet the policy's tax refund conditions. For enterprises that meet the conditions for tax rebate, the Ministry of Finance shall issue a confirmation letter on tax rebate for major equipment manufacturing enterprises, and shall provide the time limit for the transfer of tax refunds to state capital funds.
The Ministry of Finance’s notice on the implementation of inspectors emphasized that relevant major technical equipment manufacturers should independently declare their goods when importing goods listed on the tax rebate catalog for special import policies. The financial ombudsman's office in each locality of the Ministry of Finance is responsible for supervising and inspecting the implementation of the transfer of tax rebates for enterprises to increase state capital.
The notice requires that refundable tax refunds for frauds, alterations, bribes, or other illegal means taken by a company should be recovered and handled in accordance with the provisions of the "Customs Law of the People's Republic of China" and other relevant laws and regulations. Constitute a crime, be held criminally responsible.
It is understood that at the end of each year after the implementation of the tax rebate preferential policy, the Ministry of Finance will, in conjunction with the Development and Reform Commission, the General Administration of Customs, the State Administration of Taxation and other departments, timely adjust the tax rebate products for each special policy of the next year according to the application of enterprises and the effect of the implementation of policies. table of Contents.
Links to 16 key technical equipment key areas Category I. Large-scale clean and high-efficiency power generation equipment: Million-kilowatt nuclear power unit, supercritical thermal power unit, gas-steam combined cycle unit, integrated coal gasification gas-steam combined cycle unit, large circulating fluidized bed Boilers, large-scale hydropower generating units and pumped-storage hydropower generating units, large air-cooled power station units, and high-power wind power generators and other new energy equipment.
Second, UHV power transmission and transformation equipment: 1000 kV UHV AC and ± 800 kV DC power transmission complete sets of equipment, 500 kV AC and DC and 750 kV AC power transmission and transformation of key equipment.
Third, large-scale petrochemical equipment: million tons of large-scale complete sets of equipment and paraxylene (PX), terephthalic acid (PTA), polyester complete sets of equipment.
Fourth, large-scale coal chemical equipment.
Fifth, large-scale sheet hot and cold continuous rolling complete sets of equipment and coating processing complete sets of equipment.
Sixth, large-scale coal underground mining, lifting and washing equipment and large-scale open-pit mining equipment.
VII. Large-scale ships and marine engineering equipment: large-scale high-tech and high added value such as large-scale offshore petroleum engineering equipment, 300,000 tons of ore and crude oil tanker, FPSO, 10000 or more container ships, and LNG carrier. Ships and high-power diesel engines and other ancillary equipment.