China Announces Preferential Tax Policies for Imported Seeds and Provenance
18 May 2021
According to a circular (Cai Guan Shui No. 29 ) jointly issued by the Ministry of Finance , the General Administration of Customs and the State Taxation Administration on 21 April, imports of seeds and provenance on the “Exemption Lists of Imported Seeds and Provenance” are exempt from import value-added tax from 1 January 2021 to 31 December 2025.
The first Exemption List came into force on 1 January 2021. Tax already paid on duty-free items within 30 days of the publication of the Exemption List of eligible seeds is refundable. Subsequent lists will take effect from the 20th day of their issuance. Seeds and provenance imported under the policy will no longer be subject to follow-up supervision as specific duty-free goods.
Source: Ministry of Commerce
- Food & Beverages
- Mainland China