China's Seeds Import VAT Off CNY 450 MLN Now

According to China Ministry of Finance news, during Chinese "twelfth five-year plan" period, the Chinese government will grant exemption from import value-added tax (VAT) to imports of seeds/seedlings, breeding stock/poultry, fingerlings/fries, and wildlife seeds.

So far, the VAT exemption totals CNY 450 million or so.

In 2012, China Ministry of Agriculture approved 59 kinds of such imports, quitting the VAT at CNY 300 million, and China State Forestry Administration approved 90 kinds thereof, with the exemption of CNY 150 million.