Economy

China exempts import tax on major equipment parts

(Xinhua)
Updated: 2010-10-27 09:48

BEIJING - China's government announced Tuesday that components of some major items of technical equipment were exempted from import taxes.

Chinese domestic manufacturers of items of large technical equipment had been exempted from customs duties and import value-added tax for the necessary import of crucial equipment parts and raw materials since June 1, said a circular on the Ministry of Finance (MOF) website.

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Producers who imported those components and raw materials since June 1 could get a tax refund.

The circular was jointly issued by the MOF, the Ministry of Industry and Information Technology, the State Administration of Taxation and the General Administration of Customs.

Producers of technical equipment for environmental protection and resource utilization, emergency diesel generator sets, automatic luggage sorting systems used in airports and heavy die forging hydropresses were eligible for the exemption, according to the circular.

A detailed list of the equipment categories is available on the MOF website.