Description of goods exempted from import duties and link value-added tax

Articles 1 to 3 of the circular specify which instruments, parts and accessories and special tools are exempt from import duties and import value-added tax.  List management shall be separately formulated and jointly issued by the Ministry of Industry and Information Technology in conjunction with the Ministry of Finance, the General Administration of Customs, the State Administration of Taxation and the National Energy Administration.

Customs supervision

The competent unit of the executing unit shall issue the Confirmation Form; The project implementation unit shall apply to the customs for tax reduction and exemption procedures for imported goods in accordance with customs regulations with the “Confirmation Form” and other relevant materials.

Waiver of tax exemption limit

The unit that has obtained the qualification for tax exemption may apply to the competent customs and choose to waive the exemption from import duties. The relevant unit voluntarily waives the exemption from import value-added tax may not apply for exemption from import value-added tax within 36 months.

Which institutions issued the confirmation form

The Ministry of Natural Resources, China National Petroleum Corporation Limited, China National Petroleum and Chemical Corporation Limited, China National Offshore  Oil Corporation Limited, China National Offshore Oil Corporation Limited, and the project  management  units  led by the  Ministry of  Finance for confirmation.