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154 kinds of petrochemical general machinery equipment included in the catalogue
On January 22, 2007, the Ministry of Finance issued an announcement announcing the "Catalogue of Imported Goods for Domestic Investment Projects Not Exempted from Taxation (Revised in 2006)". Since March 1, 2007, it has imported equipment for newly approved domestic investment projects. It shall be carried out in accordance with the "Catalogue of Imported Products that Are Not Exempted from Taxes in Domestic Investment Projects (Revised in 2006)".
The catalogue also stipulates that the domestic investment projects approved before March 1, 2007, whose equipment was imported before January 1, 2008, are still in accordance with the "Catalogue of Imported Products that Domestic Investment Projects Are Not Exempted from Taxes (2000 Revision, 2002). (annual adjustment)" (hereinafter referred to as "the original non-tax exemption list"); equipment imported after January 1, 2008 (including January 1) shall be in accordance with the "Importable Goods Catalogue for Domestic Investment Projects Not Exempted from Taxation (2006). (Annual Revision)" (hereinafter referred to as the "New Tax Free Catalogue") is implemented.
This research was jointly conducted by the National Development and Reform Commission, the Ministry of Finance, the General Administration of Customs, and the General Administration of Taxation. It sought the opinions of more than 30 departments, industry associations, and related companies, and organized relevant experts to study all technical specifications, items, and tax numbers one by one. The new policy formulated on the basis of fully absorbing and balancing the views of various parties has finally come into being.
Follow WTO "Game Rules"
The newly added equipment and technical specifications of the “New Tax Free Catalog†include 154 types of petrochemical general machinery and equipment. These equipments already have manufacturing capacity in China, and the technical level can already meet the requirements, or the market capacity is relatively large. It is possible for China to create manufacturing capacity in the short term. Therefore, it is no longer possible to enjoy the exemption from import duties and VAT discounts on import links.
The above new policies and measures have strongly supported the development of China's equipment manufacturing industry. However, this directory has taken a long time in the process of soliciting opinions and brewing. During this period, domestic manufacturing companies have made rapid progress in the development of new products, and there are a number of advanced technology equipment. A large number of major technical equipments have been put on the market and have been welcomed by users. It is necessary to further add these mature technology equipments, especially some major technical equipments, to this list to improve the policies and measures. For example, a cracking gas compressor, a propylene compressor, and a binary refrigeration compressor in an ethylene plant of 1 million tons or less; a carbon dioxide compressor, an air compressor, a raw gas compressor, a synthesis gas compressor, and ammonia in a large chemical fertilizer plant Refrigerated compressors; Centrifugal compressors for natural gas pipelines; Propylene compressors and synthesis gas compressors for methanol plants; Air compressors, oxygen compressors, nitrogen compressors for large air separation plants; polypropylene and polyethylene Labyrinth compressor; power 48000~60000kW blast furnace blower and so on.
This policy adjustment eliminated the super-national treatment enjoyed by some imported products, enabled a similarly competitive environment for domestically produced similar products, and was a major measure for the implementation of the “State Council’s Opinions on Accelerating the Revitalization of the Equipment Manufacturing Industryâ€. The actual development of China's equipment manufacturing industry provides conditions for domestic equipment manufacturing companies to carry out independent innovation and is conducive to the development of China's petrochemical general machinery industry.
This practice does not violate the WTO rules because of the taxation of imported equipment and the tax rate. China's accession to the WTO has been resolved in its accession to the WTO, and whether the tax exemption should belong to the policies of various governments.
Cancel the "super national" treatment
After China's accession to the WTO, relevant policies have been adjusted in accordance with WTO rules, and national treatment has been implemented for foreign-funded enterprises. However, various super-national treatment of foreign-funded enterprises is still being implemented. At present, in addition to the 20 kinds of consumer electronic products, foreign-funded enterprises import equipment for foreign investment, all equipment imports are free of tariffs and import value-added tax. Two kinds of investment sources implement two categories of imported equipment that are not tax-free, and there are serious unequal treatment in the import policy.
According to customs statistics, in 2006 foreign-invested enterprises imported equipment for investment of 27.822 billion U.S. dollars, exempted from customs duties and value-added tax of about 60 billion yuan, based on the average import tariff of electromechanical equipment and the year-end exchange rate. This situation will inevitably reduce the import costs of foreign-funded enterprises and increase their competitiveness. At the same time, domestic equipment and imported equipment are also at a disadvantage in competition. If such unfair competition continues, it will certainly limit the development of domestic-funded enterprises and adversely affect the national economic security. This policy has continued for many years. It is time for this adjustment. Therefore, it is recommended that foreign-invested projects be imported as soon as possible to implement the “List of Imported Goods that Are Not Exempted from Taxes in Domestic Investment Projects (Revised in 2006)†as soon as possible so as to implement fair competition and effectively accelerate the revitalization of the domestic equipment manufacturing industry.
In recent years, some powerful enterprises in China's machinery industry have accelerated the pace of overseas mergers and acquisitions and acquired or controlled some well-known overseas companies. For example, Shanghai Electric Group Printing and Packaging Machinery Co., Ltd. has purchased Akiyama Corporation, a well-known Japanese company, which manufactures sheetfed offset presses. Dalian Machine Tool Group purchased Ingersoll, USA, which manufactures special machine tools and integrated manufacturing systems for high-speed machining centers and high-speed machining centers. The company and the crankshaft equipment company that produces the engine crankshaft production line; Shenyang Machine Tool Group purchased the world-famous brand, the production of CNC gantry milling machines, CNC floor boring and milling machines, large-scale CNC vertical lathes of the German company; Hisense Corporation's first machine tool plant acquisition Manufacturing Valdrich Coburg, Germany, which manufactures heavy duty CNC milling machines. The products produced by these companies are technologically advanced, but some domestic users still have to import similar products. As these enterprises are currently Chinese-funded enterprises outside of China, their intellectual property and corporate profits are owned by the Chinese side. Therefore, it is recommended that, for equipment manufactured by overseas Chinese-funded enterprises acquired, products that meet the domestic product definition standards will be treated as imported products, which are deemed to be exempted from customs duties, and will be included in the catalogue of government procurement products in China and will enjoy the same treatment as domestic products.
On January 22, 2007, the Ministry of Finance issued an announcement announcing the "Catalogue of Imported Goods for Domestic Investment Projects Not Exempted from Taxation (Revised in 2006)". Since March 1, 2007, it has imported equipment for newly approved domestic investment projects. It shall be carried out in accordance with the "Catalogue of Imported Products that Are Not Exempted from Taxes in Domestic Investment Projects (Revised in 2006)".
The catalogue also stipulates that the domestic investment projects approved before March 1, 2007, whose equipment was imported before January 1, 2008, are still in accordance with the "Catalogue of Imported Products that Domestic Investment Projects Are Not Exempted from Taxes (2000 Revision, 2002). (annual adjustment)" (hereinafter referred to as "the original non-tax exemption list"); equipment imported after January 1, 2008 (including January 1) shall be in accordance with the "Importable Goods Catalogue for Domestic Investment Projects Not Exempted from Taxation (2006). (Annual Revision)" (hereinafter referred to as the "New Tax Free Catalogue") is implemented.
This research was jointly conducted by the National Development and Reform Commission, the Ministry of Finance, the General Administration of Customs, and the General Administration of Taxation. It sought the opinions of more than 30 departments, industry associations, and related companies, and organized relevant experts to study all technical specifications, items, and tax numbers one by one. The new policy formulated on the basis of fully absorbing and balancing the views of various parties has finally come into being.
Follow WTO "Game Rules"
The newly added equipment and technical specifications of the “New Tax Free Catalog†include 154 types of petrochemical general machinery and equipment. These equipments already have manufacturing capacity in China, and the technical level can already meet the requirements, or the market capacity is relatively large. It is possible for China to create manufacturing capacity in the short term. Therefore, it is no longer possible to enjoy the exemption from import duties and VAT discounts on import links.
The above new policies and measures have strongly supported the development of China's equipment manufacturing industry. However, this directory has taken a long time in the process of soliciting opinions and brewing. During this period, domestic manufacturing companies have made rapid progress in the development of new products, and there are a number of advanced technology equipment. A large number of major technical equipments have been put on the market and have been welcomed by users. It is necessary to further add these mature technology equipments, especially some major technical equipments, to this list to improve the policies and measures. For example, a cracking gas compressor, a propylene compressor, and a binary refrigeration compressor in an ethylene plant of 1 million tons or less; a carbon dioxide compressor, an air compressor, a raw gas compressor, a synthesis gas compressor, and ammonia in a large chemical fertilizer plant Refrigerated compressors; Centrifugal compressors for natural gas pipelines; Propylene compressors and synthesis gas compressors for methanol plants; Air compressors, oxygen compressors, nitrogen compressors for large air separation plants; polypropylene and polyethylene Labyrinth compressor; power 48000~60000kW blast furnace blower and so on.
This policy adjustment eliminated the super-national treatment enjoyed by some imported products, enabled a similarly competitive environment for domestically produced similar products, and was a major measure for the implementation of the “State Council’s Opinions on Accelerating the Revitalization of the Equipment Manufacturing Industryâ€. The actual development of China's equipment manufacturing industry provides conditions for domestic equipment manufacturing companies to carry out independent innovation and is conducive to the development of China's petrochemical general machinery industry.
This practice does not violate the WTO rules because of the taxation of imported equipment and the tax rate. China's accession to the WTO has been resolved in its accession to the WTO, and whether the tax exemption should belong to the policies of various governments.
Cancel the "super national" treatment
After China's accession to the WTO, relevant policies have been adjusted in accordance with WTO rules, and national treatment has been implemented for foreign-funded enterprises. However, various super-national treatment of foreign-funded enterprises is still being implemented. At present, in addition to the 20 kinds of consumer electronic products, foreign-funded enterprises import equipment for foreign investment, all equipment imports are free of tariffs and import value-added tax. Two kinds of investment sources implement two categories of imported equipment that are not tax-free, and there are serious unequal treatment in the import policy.
According to customs statistics, in 2006 foreign-invested enterprises imported equipment for investment of 27.822 billion U.S. dollars, exempted from customs duties and value-added tax of about 60 billion yuan, based on the average import tariff of electromechanical equipment and the year-end exchange rate. This situation will inevitably reduce the import costs of foreign-funded enterprises and increase their competitiveness. At the same time, domestic equipment and imported equipment are also at a disadvantage in competition. If such unfair competition continues, it will certainly limit the development of domestic-funded enterprises and adversely affect the national economic security. This policy has continued for many years. It is time for this adjustment. Therefore, it is recommended that foreign-invested projects be imported as soon as possible to implement the “List of Imported Goods that Are Not Exempted from Taxes in Domestic Investment Projects (Revised in 2006)†as soon as possible so as to implement fair competition and effectively accelerate the revitalization of the domestic equipment manufacturing industry.
In recent years, some powerful enterprises in China's machinery industry have accelerated the pace of overseas mergers and acquisitions and acquired or controlled some well-known overseas companies. For example, Shanghai Electric Group Printing and Packaging Machinery Co., Ltd. has purchased Akiyama Corporation, a well-known Japanese company, which manufactures sheetfed offset presses. Dalian Machine Tool Group purchased Ingersoll, USA, which manufactures special machine tools and integrated manufacturing systems for high-speed machining centers and high-speed machining centers. The company and the crankshaft equipment company that produces the engine crankshaft production line; Shenyang Machine Tool Group purchased the world-famous brand, the production of CNC gantry milling machines, CNC floor boring and milling machines, large-scale CNC vertical lathes of the German company; Hisense Corporation's first machine tool plant acquisition Manufacturing Valdrich Coburg, Germany, which manufactures heavy duty CNC milling machines. The products produced by these companies are technologically advanced, but some domestic users still have to import similar products. As these enterprises are currently Chinese-funded enterprises outside of China, their intellectual property and corporate profits are owned by the Chinese side. Therefore, it is recommended that, for equipment manufactured by overseas Chinese-funded enterprises acquired, products that meet the domestic product definition standards will be treated as imported products, which are deemed to be exempted from customs duties, and will be included in the catalogue of government procurement products in China and will enjoy the same treatment as domestic products.
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