China

Details

  • Service: Tax, Trade & Customs
  • Industry: Technology, Media & Telecommunications, Technology
  • Type: Business and industry issue, Publication series, Regulatory update
  • Date: 5/24/2011

Import duty or Value Added Tax exemption continue for software & IC industries 

China alert: Technology, Media & Telecommunications Focus - Issue 2, May 2011

 

General Administration of Customs (GAC) issued Announcement [2011] No.30 ("Announcement 30") on 12 May 2011, providing import duty and Value Added Tax (VAT) exemption to software and integrated circuit enterprises on the relevant imported equipment and parts provided that the related conditions are met. This is an extension of the benefits that were provided in earlier circulars, Guo Fa [2000] No. 18 and Cai Shui [2000] No.25 ("Circular 25") as well as their follow-up circulars, which all expired on 31 December 2010. Announcement 30 has taken effect from 12 May 2011. 

 

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