“The Ministry of Finance issued a notice on the 23rd to add value to import duties and import links for some key parts and raw materials imported by domestic equipment manufacturers for the development and manufacture of large-scale open-pit mining machinery and shovel shovels and large-scale coal mining equipment. The tax will be implemented with “recruiting backwards†and at the same time stop import tax exemption for the complete machine and complete sets of equipment.â€
To encourage independent R&D and production of large-scale state-owned equipment manufacturing enterprises, the Ministry of Finance issued a notice on the 23rd that some key zeros imported by domestic equipment manufacturing companies for the development and manufacture of large-scale open-pit mining machinery and shovel shovel excavators and large-scale coal mining equipment. Import duties on components and raw materials and value-added tax on import links will be implemented by “recruiting firstâ€, and at the same time stopping import tax exemption for complete machines and complete sets of equipment.
In early 2007, the Ministry of Finance, the National Development and Reform Commission, the General Administration of Customs, the State Administration of Taxation and other four departments jointly issued the "Notice on Implementing the State Council's Several Opinions on Accelerating the Revitalization of the Equipment Manufacturing Industry concerning Import Taxation Policies," and the tax adjustment notice issued this time, It is the latest measure to implement the above-mentioned import taxation policies for the equipment industry. The Ministry of Finance revealed that in the 16 key technical and equipment fields previously selected, the four major categories of tariff adjustment policies for textile machinery, shield machines, large mining excavators, and coal mining equipment have been approved and tariffs in other areas have been passed. Adjustment policies will be gradually introduced.
The notice issued on the 23rd pointed out that with the date of import declaration for enterprises, as of January 1, 2007, it was imported for domestic enterprises to develop and manufacture large-scale open-pit mine machinery shovel shovel excavators and large-scale coal mining equipment. Import tariffs on some key components and raw materials and value-added tax on import links implement “recruitment and retreatâ€. The tax refunds are treated as national investments and converted into state capital funds, which are mainly used for the development of new products for enterprises. The notice identified specific types and types of excavators and coal mining equipment, such as electric traction shearers, scraper conveyors, scraper loaders, hydraulic supports, lifting equipment, large crushing stations, and so on.
In addition, since January 2008, some of the newly-approved internal and external investment projects include shovel-type mining excavators, electric traction shearer conveyors, scraper loaders, and hydraulic supports, and large-scale Crushing stations, fixed belt conveyors, etc., will cease to implement the import tax exemption policy.
An industry analyst said that the new regulations involved companies including Tiandi Technology (600582.SH), a large mining equipment manufacturer, Taiyuan Heavy Industry (600169.SH), and China Coal Energy (1898.HK). .
Wu Dezheng, General Manager of Tiandi Technology, told reporters that Tiandi Technology does not have many imported parts and components. “Most of the company’s spare parts are manufactured by oneself.†Coal production companies such as Shenhua Group's previously purchased foreign products may need to replace parts and components, and therefore use it for coal mining machinery. For the parties, the tax rebate for imported components of coal-fired machines will be beneficial.
Union Securities Analyst Wu Hao said that the import of parts and components to encourage imports does not mean that the imported components will be able to assemble a complete machine. First of all, the state has qualification requirements for parts and components import companies, and there is no strong scale and R&D advantages to enjoy this benefit. Second, coal-fired machine companies need to have strong control system design capabilities, and even individualize customer needs. Customized. However, encouraging import substitution in the country of the whole machine sector is the biggest advantage for companies.
Xinhua News Agency stated that the relevant person in charge of the Ministry of Finance stated that adjusting the import taxation policy reflected the government’s support for the revitalization of the domestic equipment manufacturing industry. The taxes on the return of imported key components and raw materials were transferred to the capital of the company and could be used for technological transformation. And science and technology innovation provide funding sources. At the same time, under the premise that domestic equipment can meet basic domestic needs, the tax exemption for imported complete machines will be suspended, which will provide domestic equipment with an opportunity for fair competition with imported equipment and can reduce the production of newly developed domestic equipment in a certain period of time. Cost pressure.
To encourage independent R&D and production of large-scale state-owned equipment manufacturing enterprises, the Ministry of Finance issued a notice on the 23rd that some key zeros imported by domestic equipment manufacturing companies for the development and manufacture of large-scale open-pit mining machinery and shovel shovel excavators and large-scale coal mining equipment. Import duties on components and raw materials and value-added tax on import links will be implemented by “recruiting firstâ€, and at the same time stopping import tax exemption for complete machines and complete sets of equipment.
In early 2007, the Ministry of Finance, the National Development and Reform Commission, the General Administration of Customs, the State Administration of Taxation and other four departments jointly issued the "Notice on Implementing the State Council's Several Opinions on Accelerating the Revitalization of the Equipment Manufacturing Industry concerning Import Taxation Policies," and the tax adjustment notice issued this time, It is the latest measure to implement the above-mentioned import taxation policies for the equipment industry. The Ministry of Finance revealed that in the 16 key technical and equipment fields previously selected, the four major categories of tariff adjustment policies for textile machinery, shield machines, large mining excavators, and coal mining equipment have been approved and tariffs in other areas have been passed. Adjustment policies will be gradually introduced.
The notice issued on the 23rd pointed out that with the date of import declaration for enterprises, as of January 1, 2007, it was imported for domestic enterprises to develop and manufacture large-scale open-pit mine machinery shovel shovel excavators and large-scale coal mining equipment. Import tariffs on some key components and raw materials and value-added tax on import links implement “recruitment and retreatâ€. The tax refunds are treated as national investments and converted into state capital funds, which are mainly used for the development of new products for enterprises. The notice identified specific types and types of excavators and coal mining equipment, such as electric traction shearers, scraper conveyors, scraper loaders, hydraulic supports, lifting equipment, large crushing stations, and so on.
In addition, since January 2008, some of the newly-approved internal and external investment projects include shovel-type mining excavators, electric traction shearer conveyors, scraper loaders, and hydraulic supports, and large-scale Crushing stations, fixed belt conveyors, etc., will cease to implement the import tax exemption policy.
An industry analyst said that the new regulations involved companies including Tiandi Technology (600582.SH), a large mining equipment manufacturer, Taiyuan Heavy Industry (600169.SH), and China Coal Energy (1898.HK). .
Wu Dezheng, General Manager of Tiandi Technology, told reporters that Tiandi Technology does not have many imported parts and components. “Most of the company’s spare parts are manufactured by oneself.†Coal production companies such as Shenhua Group's previously purchased foreign products may need to replace parts and components, and therefore use it for coal mining machinery. For the parties, the tax rebate for imported components of coal-fired machines will be beneficial.
Union Securities Analyst Wu Hao said that the import of parts and components to encourage imports does not mean that the imported components will be able to assemble a complete machine. First of all, the state has qualification requirements for parts and components import companies, and there is no strong scale and R&D advantages to enjoy this benefit. Second, coal-fired machine companies need to have strong control system design capabilities, and even individualize customer needs. Customized. However, encouraging import substitution in the country of the whole machine sector is the biggest advantage for companies.
Xinhua News Agency stated that the relevant person in charge of the Ministry of Finance stated that adjusting the import taxation policy reflected the government’s support for the revitalization of the domestic equipment manufacturing industry. The taxes on the return of imported key components and raw materials were transferred to the capital of the company and could be used for technological transformation. And science and technology innovation provide funding sources. At the same time, under the premise that domestic equipment can meet basic domestic needs, the tax exemption for imported complete machines will be suspended, which will provide domestic equipment with an opportunity for fair competition with imported equipment and can reduce the production of newly developed domestic equipment in a certain period of time. Cost pressure.