China to offer import tax exemptions and cuts for sales during second CIIE
2019-11-05 17:13:33 [Print]
According to the notice jointly issued by China's Ministry of Finance, General Administration of Customs, and State Taxation Administration on November 4, Chinese importers will be exempted from import tariffs for sales of a reasonable quantity made during the Second China International Import Expo (CIIE) (not including products China forbids to import, dying-out animals and plants, and 20 sorts of commodities and autos that are not subtitled to any tax exemptions and cuts), and will be offered a lower tax rate, 70% of payable taxes, for VAT and consumption tax of such sales.
According to this notice, there are 35 exhibitors attending the Second CIIE entitled to the above tax exemptions and cuts, and other exhibitors can enjoy tax cuts and exemptions for sales of no more than USD20,000.
In addition, sales exceeding the amount entitled to tax exemptions and cuts and won't be repatriated to their origin places will be taxed in line with related rules.
According to this notice, there are 35 exhibitors attending the Second CIIE entitled to the above tax exemptions and cuts, and other exhibitors can enjoy tax cuts and exemptions for sales of no more than USD20,000.
In addition, sales exceeding the amount entitled to tax exemptions and cuts and won't be repatriated to their origin places will be taxed in line with related rules.
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