China Clarifies Certain Import Duty Exemptions
China issued clarification on import duty exemptions for certain equipment and machinery, according to an Aug. 19 report from the Hong Kong Trade Development Council. The report said imported equipment and machinery that falls within the Catalogue of Encouraged Industries…
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for Foreign Investment’s “encouraged industries” are exempt from customs duties, but not import-related value-added taxes. VATs also still apply to all “equipment imported for direct self-use and any associated items imported with regard to said equipment within the total investment amount of an foreign-invested project,” the HKTDC said.