CHINA-S&T: CHINA SUSPENDS RANGE OF DUTIES ON IMPORT OF SCIENTIFIC AND TECHNICAL EQUIPMENT AND PUBLICATIONS TO PROMOTE INNOVATION AND SELF-RELIANCE

A notice issued on April 20, jointly by China's Ministry of Finance, the State Taxation Administration and the General Administration of Customs, announced the cancellation of import taxes on a range of scientific, technological, medical and analytical equipment and publications for the next five years as part of the government’s strategy to boost innovation and technology self-reliance. Research institutions, schools and libraries are now exempt from three types of import tariffs — customs duty, consumption tax and value-added tax (VAT) — for purchases of scientific research and development (R&D) as well as teaching equipment that cannot be produced in China. Equipment that can be produced in China but cannot meet the requirements of researchers or teachers is also exempt from import taxes. Books or other material used for research or teaching will no longer be subject to import VAT. The policy is effective from Jan. 1, 2021, until Dec. 31, 2025.





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