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        Kunshan Non-ferrous metals Casting Co., Ltd.

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        China will formulate tax policies for promoting technological innovation and import

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        China will formulate tax policies for promoting technological innovation and import

        Release date:2016-01-15 00:00 Source:http://www.rscharitas.com Click:

        According to the Ministry of Finance, during the “11th Five-Year Plan” period, the state will formulate and implement import taxation policies that promote technological innovation and encourage enterprises to become independent innovation agents. The key points include: Formulating the “Implementation Measures for the Promotion of Import Tax Policies for the Equipment Industry”, and within the scope of major technical equipment determined by the State, give certain import tax concessions to the domestic equipment industry for the independent development and manufacture of key components and raw materials imported for major equipment. At the same time, appropriate adjustments have been made to the corresponding taxation policies for imported equipment, and in principle, the implementation of the corresponding tax exemption policy for the entire machine has been stopped. The tax incentives originally used for imported equipment will be adjusted to tax incentives for domestic companies to independently develop and produce equipment, and support the development of domestic equipment manufacturing without increasing the financial burden. Special preferential import tax policies shall be formulated for enterprises undertaking major national science and technology projects, national key science and technology projects, or major national equipment R&D projects. We will further revise and improve the tax preferential policies for the import of scientific research and technological development supplies, specify the preferential tax treatment for enterprises engaged in scientific and technological activities for imported scientific research supplies, increase policy efforts, and vigorously support the R&D activities of enterprise technology centers and national engineering centers. It is reported that during the “Eleventh Five-Year Plan” period, the Ministry of Finance will focus on the following aspects of import tax policy work: appropriate adjustment of the introduction of foreign advanced equipment, technology, and encourage the introduction of the focus to promote the domestic companies to digest the introduction of technology , absorb and enhance the ability of independent innovation of enterprises; formulate policies that are conducive to environmental protection, ecological construction and shortage, and import of resource products; intensify efforts to implement policies that encourage science and technology, education, health and other social undertakings and agricultural development; The differential treatment of foreign-funded enterprises' import taxation will unify the preferential policies of domestic and foreign-funded enterprises in the field of import taxation; gradually implement the import tax tax expenditure management system, and according to the country’s financial status, realize the active control of the scale of import tax exemption.


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