China scraps import duties for advanced components

02/04/2013 12:00 - 451 Views

BEIJING, March 30 (Xinhua) -- China will drop import tariffs and import-related value-added taxes for a range of advanced components and raw materials for making sophisticated equipment, the Ministry of Finance (MOF) said Friday.

Items that will enjoy tax exemption include signal system of high-speed railways, garbage sorting system, solar cells, and integrated circuits and manufacturing equipment for flat-panel display, among others.

The new rules will take effect starting April 1, 2013.

Importers of those components and raw materials should register with customs and taxation authorities for tariff exemption review during April 1 and April 30.

Authorities also created a separate list of technological equipment and materials that will be taxed starting from April 1, 2013. The list included electric transmission and transformation equipment and concrete pump trucks.

2013-03-30 11:03:20

Source: English.news.cn