China News Service, Beijing, April 13 (Reporter Zhao Jianhua) China's Ministry of Finance, General Administration of Customs, and State Administration of Taxation announced on the 13th that preferential import tax policies supporting the development of new display industries from 2021 to 2030 will accelerate the development of new generation information technology.
From January 1, 2021 to December 31, 2030, the import of new display devices (ie thin-film transistor liquid crystal display devices, active matrix organic light-emitting diode display devices, Micro-LED display devices, the same below) production enterprises in China Self-use productive raw materials, consumables and clean room supporting systems, production equipment (including imported equipment and domestic equipment) that cannot be produced or whose performance cannot meet the demand, are important for the key raw materials and parts of the new display industry (ie targets, light Resist, reticle, polarizer, color filter film) manufacturers import self-use production raw materials and consumables that cannot be produced in China or whose performance cannot meet the demand, and are exempt from import tariffs.
According to domestic industrial development and technological progress, the Ministry of Finance and other departments will make timely adjustments to the types of key raw materials and parts.
The list of duty-free imported goods that cannot be produced in the country or whose performance cannot meet the demand shall be formulated and issued by the Ministry of Industry and Information Technology of China in conjunction with relevant departments, and adjusted dynamically.
Enterprises undertaking major projects of new display devices will import new equipment from January 1, 2021 to December 31, 2030, except for the "Catalogue of Imported Commodities Not Exempted for Domestic Investment Projects" and "Imported Commodities Not Exempted for Foreign Investment Projects" In addition to the commodities listed in the Catalogue and the Catalogue of Major Technical Equipment and Products Not Exempted from Import Duty, provide customs-approved tax guarantees for unpaid taxes, and allow the importation to be paid in installments within 6 years after the first equipment is imported. For the link value-added tax, 0%, 20%, 20%, 20%, 20%, 20% of the total value-added tax of the import link shall be paid every year within 6 years. The taxes paid since the date of the first equipment import will not be refunded.
During the period of instalment payment, the customs shall not levy late fees for the taxes paid in installments.
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