www.himfr.comXinhua site Reporters learned from Hangzhou Customs, in accordance with relevant state regulations, foreign-funded enterprises import of machine tools from the type of equipment on November 1 will no longer be exempted from customs duties and value-added tax. Customs and Excise Department said that foreign-funded enterprises should pay attention to this policy change.
According to Hangzhou Customs related to the person in charge, foreign-funded enterprises imported for personal use pressure forming machines and machine tools of the preferential tax policy on November 1 full stop, foreign-funded enterprises import of such equipment as usual is no longer enjoy exemption from paying customs duties and value-added tax Preferential policies. It is understood that the tax policy adjustments, primarily to support the development of the domestic manufacturing industry and encourage more foreign enterprises to carry out domestic procurement of equipment. Only foreign-funded enterprises import existing technology can not achieve the targets required by NC machine tools and pressure forming machine in order to enjoy the benefits associated.
According to Hangzhou Customs statistics, in 2007, foreign-invested enterprises in Zhejiang Province for their own use duty-free import of machine tools and pressure forming machines with a total value of 257,000,000 U.S. dollars, a total of 150,000,000 yuan tariff reductions. The import of such equipment mainly in Hangzhou, Jiaxing, Wenzhou, Taizhou, Shaoxing, and other areas.from:xinhua.com
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