Imported machine tool equipment import tax adjustment

The Xiaoshan Customs Office has recently updated the tax deduction and exemption policies for imported machine tools by foreign-funded enterprises, in line with national regulations. Some imported CNC machine tools no longer qualify for the same tariff and VAT exemptions that they previously enjoyed. This change reflects a broader effort to promote domestic manufacturing and reduce reliance on foreign technology. Previously, foreign-funded enterprises could import CNC machine tools and pressure forming machines as part of their total investment without paying import duties. These items were fully exempted from tariffs, which made such imports more cost-effective for foreign companies operating in China. However, under the new policy, any newly approved foreign-funded projects importing CNC machine tools or pressure forming machines listed in the "Catalogue of Internally-Funded Non-Exempted Items" will now be subject to customs duties. Import-linked value-added tax (VAT) is still waived, but the introduction of tariffs marks a significant shift in the treatment of these goods. According to sources, this adjustment aims to support the growth of China’s domestic manufacturing sector. The equipment included in the non-exempted list can already be produced using existing domestic technologies. As a result, foreign-funded enterprises will now be required to import only those CNC machine tools and pressure forming machines that are already available through local manufacturers. Only those that meet specific technical standards may continue to benefit from tax exemptions. This policy change affects a wide range of industries and involves numerous types of imported equipment. It could have some impact on foreign-funded enterprises in Xiaoshan District, particularly those that rely heavily on imported machinery. However, the customs office has provided a grace period to ease the transition. Enterprises that had projects approved before May 1st can still apply for tax reduction and exemption procedures with customs, and these applications will be accepted until November 1st this year. The Xiaoshan Customs Office has urged businesses to stay informed about the new rules and to take advantage of the remaining time to complete necessary procedures. This move not only aligns with national economic strategies but also signals a long-term shift toward strengthening China's domestic industrial capabilities.

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