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Twenty categories of imported exhibits in CAETE enjoy preferential tax policies this year!

Released on:2021-04-13 Views:

On April 9, the Ministry of Finance of the People's Republic of China, the General Administration of Customs and the State Administration of Taxation jointly issued the Notice on Preferential Tax Policies for Imported Exhibits Sales during the Exhibition Period of the International Exhibitions in Central and Western China during the 14th Five-Year Plan (CGS [2021] No. 21), and officially announced the preferential tax policies for imported exhibits sales during the 14th Five-Year Plan (including the China-Africa Economic and Trade Expo).

According to the Notice, during the exhibition period, twenty categories of imported exhibits within the duty-free quota, such as animals, plants and animal and plant products, base metals and metal products, jewel, jewelry, medicines, health care products, etc.(excluding national prohibited imports, endangered animals and plants and their products, cigarettes, alcohols, automobiles, and commodities listed in the Catalogues of Import of Major Technical Equipment and Product Without Tax Exemption) will be exempted from import duties, value-added tax and consumption tax. The Notice stipulates that each exhibitor’s total duty-free sales of exhibits of categories 1-20 shall not exceed USD 20,000.

No.

Category

The maximum amount   of tax incentives for each exhibitor

1

Animals, plants and animal and plant   products (food, beverages made from plants and animals)

Each exhibitor’s total duty-free sales of   exhibits of categories 1-20 shall not exceed USD 20,000.

2

Base metals and metal products

3

Plastics, rubber and their products

4

Textile raw materials and textile products  

5

Daily necessities and ornaments such as   shoes, caps,

and umbrellas

6

Stone, glass and its products, ceramic   products

7

Toys, games and sports products

8

Art crafts

9

Cosmetics

10

Medicines, health care products

11

Products of chemical industry and related   industries

12

Jewel and Jewellery

13

Machines, mechanical appliances,   electrical equipment, instruments and meters

14

Information products

15

Artwork

16

Wood and woodwork

17

Hide and skin, leather, fur and its   productssaddles and harnesses

18

Carpet

19

Paleontological fossil specimens

20

Mineral crystal specimens

According to the Notice, the China-Africa Economic and Trade Expo (CAETE) (held every two years) can enjoy the preferential policy for three consecutive sessions. The notice clarified that the customs will no longer conduct follow-up supervision on specific duty-free goods for the sale of imported exhibits during the exhibition period that enjoys the policy. Exhibits sold during the exhibition that is beyond the scope of the list of exhibits or sales that enjoy the preferential tax policies, and exhibits that are not sold during the exhibition and are not returned out of the country after the end of the exhibition, shall be taxed following relevant national regulations.

The introduction of this favorable policy will provide strong policy support for the second China-Africa Economic and Trade Expo (CAETE) to be held at Changsha International Convention Center in September this year.

 

Further Reviewed by: Zhao Yuhui and Jiang Yongfeng

Reviewed by: Chen Jue

Edited by: Liao Sijin


Source: China-Africa Economic and Trade Expo (CAETE)