Announcement on Consumption-Tax Exemption for Insulating Oil Products
[2010-09-28 14:33:56]
The State Administration of Taxation of P. R. China issued an Announcement on consumption-tax exemption for insulating oil products.
Matters concerning the collection scope of consumption tax are hereby announced as follows:
Insulating oil products, such as transformer oils and heat conducting oils, do not belong to "lubricating oils" which are subject to the consumption tax as stipulated in the Notice of the Ministry of Finance of P. R. China and the State Administration of Taxation of P. R. China on Raising Consumption-Tax Rates on Product Oils (CAISHUI [2008] No. 167), and shall be exempt from any consumption tax.
The Announcement shall take effect as of October 1, 2010 and the Reply of the State Administration of Taxation of P. R. China on Matters Concerning the Imposition of Consumption Tax on Insulating Oil Products (GUOSHUIHAN [2010] No. 76) shall be repealed simultaneously. There shall be no supplement of consumption tax for previous non-collection thereof, and the paid-in tax amount may offset consumption taxes payable for other goods in future taxation period.
The State Administration of Taxation of P. R. China
August 30, 2010
August 30, 2010
Source: ETCN
Related Articles:
- China Exported More Labor-Intensive Products in Jan-July 2014
(2014-09-12) - Russia to Up Oil Export Duty by $8.9/ton on June 1
(2014-05-27) - China Tipped to be Largest Oil Importer
(2013-12-09) - China Consumer Products Import Down Slightly in Jan-May 2013
(2013-08-08) - Russian Oil Export Duty Downy in June 1st 2013
(2013-06-06) - China Surpasses the U.S. in Oil Import
(2013-04-03) - China Confirms February Oil Data; Crude Imports Down 12.1% on Year
(2013-03-22) - China Oil, Iron Ore Imports Point to Demand Revival
(2012-12-11) - China Announces Electric-Electronic Waste Disposal Fund Covered Products
(2012-12-11) - Oil-Product Imports to Huangpu Up in Quantity & Down in Price in Jan.-July 2012
(2012-10-09)
Most Read
- GACC Announcement No.10, 2017 on China-South Korea Goods Origin Info Exchange System
(2017-02-09) - Explanations on Compilation & Release of the "China Export Leading Indicator"
(2014-07-10) - GACC Announcement No.26, 2016 on (Cross-Border E-Commerce Retail Import/Export Control)
(2016-05-10) - GACC Announcement No.46, 2015 (on Uniform Social Credit Code Implementation)
(2015-10-10) - GACC Announcement No. 32, 2016 on (Uniform Social Credit Code for Legal Persons & Organizations)
(2016-05-13) - AQSIQ-CNCA Announcement No. 117, 2012 on Compulsory Certification-Free Products
(2012-08-16) - China Tariffs Implementation Plan for 2013
(2012-12-27) - China Bans Export of Protected Fossils
(2010-11-25) - Announcement of the General Administration of Customs of P. R. China, No. 43, 2010
(2010-07-06) - MOFCOM Decree No.3, 2014 on Overseas Investment Managing Measures
(2014-10-11)
