China Makes Adjustment on Tariff Preferential Policy on Some Import Goods

(4) Non-priced equipments provided by processing trade enterprise applied for processing trade manual registration on and before 31st Dec.2008 and carried on import declaration before 30th Jun. 2009 can enjoy exemption of tariff and VAT during import links according to relevant laws.

From 1st Jan 2009,Customs may levy VAT on imported commodities and take tax exemption measures when handle with issues of non-priced equipments processing trade manual registration and alter information.

(5)The related goods with tax reduction and exemption involved with VAT policies adjustment on imported commodities which has carried on import declaration to Customs on or before 31st Dec.2008 (excluding good that had finished customs declarations) can still enjoy the exemption of tariff and VAT during import links according to relevant laws.

(6)To ensure a smoothing adjustment on VAT policies of imported goods, General Administration of Customs will verify related document and information strictly. Anti-dated activities of getting the privilege of tax exemption and reduction will be severely punished according to the law.