Duty Exemption for Foreign Investment in Encouraged Industries
27 Jan 2021
On 26 January 2021, the General Administration of Customs (GAC) released the Announcement on Issues concerning the Implementation of the Catalogue of Industries for Encouraging Foreign Investment. According to the announcement, starting 27 January 2021, for foreign-invested projects as defined in the Catalogue of Industries for Encouraging Foreign Investment, the self-use equipment imported within the project’s total investment as well as the technology, supporting parts, and spare parts imported together with the equipment according to the contract, can be exempted from customs duties. However, these imports will still be subject to the import value-added tax.
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Type:
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Promotion and facilitation (Investment incentives)
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Industry:
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