GACC Announcement 4, 2012 on 2011 Foreign-Investment Catalog
[2012-02-01 14:08:26]
Announcement No. 4, 2012 of the General Administration of Customs of China (GACC)
On December 24 of 2011, China's National Development and Reform Commission (NDRC) and Ministry of Commerce (MOFCOM) jointly announced its Directive Catalog of Foreign-Invested Industries (Revision of 2011) (hereinafter referred to as the Foreign-Investment Catalog (2011 Revision), see the Annex herein) as their Decree No. 12, which shall come into force from January 30 of 2012.
The GACC hereby announces the issues relating to customs implementation of the Directive Catalog above:
As from January 30 of 2012, regarding foreign-invested projects (including capital-increasing projects) under encouragement by the Foreign-Investment Catalog (2011 Revision), exemption from import duties but levy of import value-added tax (VAT) shall be applied to self-used equipment imported within total investment amount and to accompanying technologies/accessories/parts imported upon contracts, but except commodities listed in the Catalog of Import Goods Non-Exempt from Taxes under Foreign-Invested Projects and the Catalog of Major Technical Equipment & Products Non-Exempt from Import Taxes, in accordance with the Notice of the State Council of China on Adjustment of Taxation for Import Equipment (GuoFa〔1997〕No. 37), GACC Announcement No. 103 of 2008, and so on.
With the implementation of the Foreign-Investment Catalog (2011 Revision), the code "M" shall be applied to "items on approval of industrial policies for projects" in Letters of Project Confirmation;
For instance, the first item of the first category under the encouragement by the Foreign-Investment Catalog (2011 Revision) shall be written out as: planting, development and production of woody edible oil, seasoning and industrial raw materials (M 0101); the first item in the first article of the third category shall be: development and production of biological feeds, straw feeds and aquatic feeds (M 030101).
Regarding those foreign-invested projects approved or registered before January 30, 2012 (subject to the dates of approval and registration, the same below) under the encouragement by the Directive Catalog of Foreign-Invested Industries (Revision of 2007), import-duty exemption may keep effective according to regulations.
But relevant project entities shall apply to China Customs for registration of tax breaks based upon documents such as "Letters of Project Confirmation" issued by authorities in charge (therein, "items on approval of industrial policies" shall still be original texts and codes) before January 30 of 2013; otherwise, if beyond the time limit, China Customs may not accept the applications for registration.
Regarding foreign-invested projects approved or registered before January 30 of 2012 under the encouragement by the Foreign-Investment Catalog (2011 Revision), if authorities in charge issue the Letters of Project Confirmation (therein, the code for items on approval of industrial policies shall be "M") as per the items of industrial policies under the Foreign-Investment Catalog (2011 Revision), China Customs may accept the applications for registration.
Regarding foreign-invested projects under construction unlisted in the Directive Catalog of Foreign-Invested Industries (Revision of 2007), if under the encouragement by the Foreign-Investment Catalog (2011 Revision), project entities may apply to authorities in charge for issuing the Letters of Project Confirmation.
Based upon the Letters of Project Confirmation, import-tax preferences may be applied to self-used equipment imported for the projects under construction and to accompanying technologies/accessories/parts imported upon contracts, in accordance with regulations of the Article 1 of this Announcement herein; but any taxes already paid thereof shall not be refunded.
Annex: Directive Catalog of Foreign-Invested Industries (Revision of 2011) (omitted)
The General Administration of Customs of China
January 29, 2012
Source: ETCN
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