Major science and technology projects are exempt from customs duties and import VAT

The five ministries and commissions of the Ministry of Finance recently issued the Circular on the Import Taxation Policy for Major Science and Technology Special Projects. The “Notice” stipulates that China Minkou Technology Co., Ltd. is responsible for the “National Medium and Long-Term Scientific and Technological Development Plan Outline (2006-2020)”. Companies, universities, universities, research institutes, and other institutions that use special projects (subjects) use central government funding, local fiscal funds, unit self-raised funds, and other sources of funds for import projects (projects) that require domestic key equipment that cannot be produced (Including software tools and technologies), parts and components, raw materials, exemption of import tariffs and import link value-added tax.

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