The taxable products (excluding consumption tax tax taxable products) produced by school-run enterprises for use in teaching and research in the university are exempted from VAT
The four asset management companies approved by the State Council, namely, China Cinda, Huarong, the Great Wall and Dongfang, as well as their branches, accepting the non-performing claims of the relevant state-owned banks, and the borrowers using the goods, real estate, intangible assets, securities and notes against the principal and interest of the loan, the asset company is exempted from VAT on the sale and transfer of the goods, real estate, intangible assets, securities and notes, as well as the use of the goods and real estate to engage in the financial leasing business
The repair of freight wagons within the railroad system is exempted from VAT
The recycling of used and waste materials is exempted from VAT on the sale of its purchased used and waste materials. VAT exemption for the sale of waste and old materials purchased by recycling business units
VAT exemption for goods purchased domestically by foreign governments and international organizations with free assistance
VAT exemption for the importation of official supplies brought in by embassies and consulates in China, items brought in by diplomatic representatives for their own use, and items brought in by administrative and technical staff of embassies and consulates for their installation within six months of their arrival at the embassies and consulates
VAT exemption for the repairing of ships of the COSCO Group
VAT exemption for the repairing of wagons for the system of the railway system
VAT exemption for sports equipment and special clothing for competitions imported by national professional sports teams or gifted or sponsored by international organizations and foreign countries
VAT exemption for the 29th Olympic Games organizing committee on the re-sale of the donated goods and the income derived from the sale of assets after the Games
VAT exemption for the imported materials donated free of charge by foreign governments and international organizations for the 29th Olympic Games
VAT exemption for the imported materials donated free of charge by foreign governments and international organizations for use in the 29th Olympic Games. Imported materials donated by foreign governments and international organizations for use in the 29th Olympic Games shall be exempted from import VAT and customs duty
Non-trade documents, books, audio-visuals and compact discs related to the 29th Olympic Games imported by the International Olympic Committee (IOC), international single sports organizations and other social organizations by post from abroad, and which do not reach the domestic market, shall be exempted from import VAT and customs duty, within the limits of a reasonable quantity. Non-tradable planning and design plans such as models, drawings, drawing boards, electronic files on CD-ROM, design instructions and microfilm copies, etc., imported for the construction of the Olympic venues shall be exempted from import-related value-added tax and customs duty
In respect of the equipments required for the construction of stadiums for the 29th Olympic Games which are fixed and inseparable from the facilities of stadiums and consumables (such as competition consumables) imported by way of general trade for use in the Olympic Games and used for the competitions directly. Consumables (such as match balls) imported under general trade are exempted from value-added tax (VAT) and tariffs
The International Olympic Committee is exempted from tax on the income derived from China in connection with the 29th Olympic Games, as well as the compensation income and the share of income paid by the organizing committee in accordance with the provisions of the relevant agreements and contracts
The processing and production of VAT exemption for railroad sleepers and precast cement components processed and produced by successful processing enterprises for the construction of the Qinghai-Tibet Railway
VAT exemption for income from the sale of SARS donations by government-organized auctions or designated agencies
VAT exemption for imported relief materials, such as foodstuffs, medicines, necessities of life, and salvation tools donated by foreign groups, enterprises, and individuals to China
VAT exemption for the value-added tax on the production and sale of urea products produced by domestic enterprises has been adjusted from 50 percent to 50 percent after initial collection and return to the organizing committee. Adjusted from 50% levy and then return to temporary exemption of VAT
Import VAT exemption for commodities imported by border residents in border areas through the mutual trade with a daily value of less than RMB 1,000 per person
Import VAT exemption for self-caught aquatic products and their processed products that are caught on the high seas or in foreign waters by fishing vessels of distant-water fishery enterprises and transported back to the country for sale
Value-added tax (VAT) is levied at a half-rate on electric power produced by using coal ore, coal cinders, oily shale, and wind power as well as on some nationally-listed new-type wall materials
VAT exemptions cover a wide range of industries and fields. . According to relevant regulations and provisions, the industries currently exempted from VAT include, but are not limited to, agriculture, forestry, animal husbandry, fishery, coal, petroleum, natural gas extraction, new energy utilization, transportation, postal services, finance, education, medical and health care, culture and sports, and scientific research and technical services. In addition, certain VAT reductions or exemptions are also available for qualified small and micro enterprises, individual business owners and entrepreneurs. The specific list of industries and fields can be checked and understood in accordance with relevant national policies to ensure accurate application. Please note that there may be variations in different regions and specific situations, and it is recommended to consult a tax professional or relevant department for the most up-to-date information and specific guidance.
Legal basis:
The Law of the People's Republic of China on Resource Tax: Article 1 Units and individuals that develop taxable resources in the territory of the People's Republic of China and other maritime areas under the jurisdiction of the People's Republic of China shall be taxpayers of resource tax and shall pay resource tax in accordance with the provisions of this Law. The specific scope of taxable resources shall be determined by the Table of Tax Rates for Resource Tax Items (hereinafter referred to as the Table of Tax Rates for Tax Items) attached to this Law.