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CIIE exhibits to enjoy tax cuts

By XING YI in Shanghai | chinadaily.com.cn | Updated: 2020-10-14 19:05
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Jinbao, the mascot of the China International Import Expo (CIIE). The third CIIE, which will offer quick and easy access to the Chinese market, is scheduled to run from Nov 5 to Nov 10, 2020 in Shanghai. [Photo/Xinhua]

A tax cut policy for exhibits of the third China International Import Expo was jointly issued by the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration on Monday.

CIIE exhibitors stand to receive a certain amount of tax exemption, including customs duties, value-added tax and consumption tax, according to the policy.

The list of exhibits eligible for the tax cuts was published online. These exhibits include machines and instrument, tractors, ships, medical equipment, artwork, collectables and antiques.

Each kind of exhibit is subject to a different tax cut. For example, exhibitors of mechanical and electrical equipment can enjoy tax cuts for a maximum of 12 items, while exhibitors of medical equipment can have a maximum of five.

Exhibitors of goods that are not in the list can enjoy tax cuts for total sales under $20,000.

Tobacco, liquors, automobiles, products related to endangered animals and plants, as well as goods prohibited by China will not receive tax cuts.

The China International Import Expo Bureau and the National Exhibition and Convention Center (Shanghai) Co are responsible for submitting the list of participating exhibitors and the exhibits sold during the expo.

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