Sales Of Reasonable Quantities Of Imported Exhibits Are Exempt From Import Duties During The Expo Period.

Beijing, November 4 (reporter Qu Zhehan) in order to support the second China International Import Fair (hereinafter referred to as the "import fair"), the Ministry of finance, the General Administration of customs and the General Administration of Taxation jointly issued a notice to implement preferential tax policies for imported exhibits sold during the exhibition period.

The notice clearly stated that the import quantity of imported exhibits, which do not include prohibited goods, endangered animals and plants and their products, and 20 goods and vehicles that are not exempt from tax reduction or exemption from the state regulations, are exempted from import duties during the period of the second Import Expo held from November 5th to November 10th. The import value-added tax and consumption tax shall be levied at 70% of the tax payable.

According to the notice, 35 exhibitors will enjoy the above preferential tax policies within the prescribed sales quota. The sales quota of other exhibitors enjoying preferential tax policies is not more than 20 thousand US dollars. The list of specific enterprises is determined by the Import Expo organizer China International Import Expo and National Convention and Exhibition Center (Shanghai) limited liability company.

In addition, exhibits that exceed the sales quota that enjoy preferential tax policies and do not return to the outside world shall be taxed according to the relevant regulations of the state.