General Administration of Customs adjusts the scope of tax exemption for major technical equipment
In order to ensure the unified and standardized implementation of the major import and export taxation policies for major technical equipment issued by the General Administration of Customs, the General Administration of Customs of the People's Republic of China recently issued the "Regulation on the Adjustment of the Import Exemption Policy for Major Technical Equipment Complete Machines".
Specifically, as of September 15, this year, the processing trade enterprises shall be taxed according to the regulations on the whole equipment listed in the relevant announcements issued by the General Administration of Customs in the form of non-priced equipment provided by foreign companies under processing trade; Processing of the processing trade manual or adding changes to commodity items will not be accepted by the customs. The major technical equipment listed in the Notice of the General Administration of Customs of the People's Republic of China on the 29th announcement in 2008 was taxed according to Notice No. 29, but the import link value-added tax may be exempted.
At the same time, if the major technological equipments listed in the relevant policies of the General Administration of Customs of foreign-funded enterprises with self-owned capital projects are applied to apply for taxation and tax exemption approval procedures, the Customs will not be accepted since September 15. Before September 15th, foreign-funded enterprises' own equipment for importing self-owned funds had the major technical equipment listed in the above-mentioned policies. The Customs had already gone through the procedures for exempting tax examination and approval in accordance with regulations, but it could not be postponed.
In the Midwest China's foreign investment in advantageous industrial projects, foreign government loans, and international financial organization loan project import equipment, the major technology and equipment listed in the relevant customs announcements, the tax exemption examination and approval procedures have been effective before September 15.
It is understood that the adjustment of the import tax exemption policy for major technical equipment as mentioned in the relevant announcement of the General Administration of Customs is applicable to all domestic investment and foreign investment projects, as well as non-priced equipment provided by foreign companies under processing trade and special customs supervision areas from the customs. The outbound area is shipped to equipment outside the territory. Among them, foreign investment projects include the Midwestern Foreign Investment Advantage Industry Project, Foreign Government Loans and International Financial Organization Loan Projects, and Foreign-invested Enterprises' Self-owned Capital Projects.
Specifically, as of September 15, this year, the processing trade enterprises shall be taxed according to the regulations on the whole equipment listed in the relevant announcements issued by the General Administration of Customs in the form of non-priced equipment provided by foreign companies under processing trade; Processing of the processing trade manual or adding changes to commodity items will not be accepted by the customs. The major technical equipment listed in the Notice of the General Administration of Customs of the People's Republic of China on the 29th announcement in 2008 was taxed according to Notice No. 29, but the import link value-added tax may be exempted.
At the same time, if the major technological equipments listed in the relevant policies of the General Administration of Customs of foreign-funded enterprises with self-owned capital projects are applied to apply for taxation and tax exemption approval procedures, the Customs will not be accepted since September 15. Before September 15th, foreign-funded enterprises' own equipment for importing self-owned funds had the major technical equipment listed in the above-mentioned policies. The Customs had already gone through the procedures for exempting tax examination and approval in accordance with regulations, but it could not be postponed.
In the Midwest China's foreign investment in advantageous industrial projects, foreign government loans, and international financial organization loan project import equipment, the major technology and equipment listed in the relevant customs announcements, the tax exemption examination and approval procedures have been effective before September 15.
It is understood that the adjustment of the import tax exemption policy for major technical equipment as mentioned in the relevant announcement of the General Administration of Customs is applicable to all domestic investment and foreign investment projects, as well as non-priced equipment provided by foreign companies under processing trade and special customs supervision areas from the customs. The outbound area is shipped to equipment outside the territory. Among them, foreign investment projects include the Midwestern Foreign Investment Advantage Industry Project, Foreign Government Loans and International Financial Organization Loan Projects, and Foreign-invested Enterprises' Self-owned Capital Projects.
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