China to free duties on some key nuclear equipment

China to free duties on some key nuclear equipment

In order to continue to support the development of China ’s major technological equipment manufacturing industry the Ministry of Finance, together with the Ministry of Industry and Information Technology, the General Administration of Customs, the State Administration of Taxation, and the National Energy Administration jointly issued the “Tax Policies and Administrative Measures for Major Imported Technological Equipment”. It stipulate that certain key components and raw materials that must be imported by enterprises and nuclear power project owners for the production of major technical equipment or products supported by the state will be exempt from customs duties and import value-added tax.

According to the Measures, the Ministry of Industry and Information Technology, in conjunction with the Ministry of Finance, the General Administration of Customs, the State Administration of Taxation and the National Energy Administration, is entitled to review and approve the tax exemption qualifications for enterprises and nuclear power project owners on a regular basis.

In addition, enterprises and owners of nuclear power projects that have obtained tax exemption qualifications can apply to waive the import VAT exemption and only to be exempt from import tariffs. Enterprises that have obtained tax exemption qualifications should go through the procedures for tax reduction and exemption for import of key components and raw materials of major technical equipment or products in accordance with the “Administrative Measures for Tax Reliefs on Import and Export Goods of China Customs”.

About Author

Elaine Li

Elaine Li (李益楠) is Marketing Manager for the Chinese Market. With ten years of experience in the nuclear power market, Elaine is experts for the certification of safety equipment (HAF 604 and 601) and marketing intelligence.