CCM: China releases Notice on Taxes Levied on Imported Seeds during 13th Five-year Plan Period 07-18-2016  617

On 29 April, 2016, the Notice on Taxes Levied on Imported Seeds during the 13th Five-year Plan Period was released by the Ministry of Finance of the People’s Republic of China (MOF). Accordingly, imports of seeds, seedlings, breeding stock, fry and wild animals and plants for reproduction continue to be exempt from value-added tax (VAT) in China during the 13th Five-year period (2016-2020).



Source: Baidu

 

Specifically, seeds, seedlings, breeding stock, fry and wild animals and plants for reproduction mentioned above include:


- Seeds, seedlings, breeding stock and fry that closely related to and can be used in the production of the agriculture and forestry industries;


- Wild animals and plants for scientific research, breeding and cultivation imported by qualified scientific research institutes, zoos, professional animal and plant protection units and farms;


- Police dogs as well as semen and embryo of police dogs for reproduction that working for army, armed police, police and ministries of public security (anti-smuggling police included).




To enhance management on taxes levied on imported seeds and accelerate the introduction of improved seeds, related industry competent departments will put forward suggestion to the MOF after collecting and analysing import plans submitted by importers. Then the MOF, along with China Customs and the State Administration of Taxation, will approve the varieties and volumes of duty-free products for the year.


After that, importers can apply to China Customs for duty-free permission on approved products in accordance with related laws (taxes will be collected after these products enter the domestic market). For imports of products that are not approved, VAT will be collected according to laws.


Validity of the above policy is from 1 Jan., 2016 to 31 Dec., 2020. Before the release of the Measures for Taxes Levied on Imported Seeds during the 13th Five-year Plan Period, measures should be in line with the last version.


This article comes from Seed China News 1607, CCM




About CCM:

CCM is the leading market intelligence provider for China’s agriculture, chemicals, food & ingredients and life science markets. Founded in 2001, CCM offers a range of data and content solutions, from price and trade data to industry newsletters and customized market research reports. Our clients include Monsanto, DuPont, Shell, Bayer, and Syngenta. CCM is a brand of Kcomber Inc.

 

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