加入中国意大利商会
成为我们超过500个意大利及外国企业这个网络体系中的一员. 通过赞助商、合作以及在我们的官方网站上投放广告从而使您获得更高的知名度。
了解更多Dear Members, dear Customers
China-Italy Chamber of Commerce (CICC) asks for your valued opinion about CICC services.
Please fill in the questionnaire.
Dear Members and Friends,
The China-Italy Chamber of Commerce is glad to share an article that its Member Orcom C&A has published on "Hangzhou tax policies for 2022 Asian Games ".
Hangzhou tax policies for 2022 Asian Games
The city of Hangzhou will be hosting the 2022 Asian Games, becoming the third Chinese city to host this event.
On April 15th, 2020, the Ministry of Finance together with the State Taxation Administration and the General Administration of Customs have issued the Announcement on the Tax Policies in Hangzhou for 2022 Asian Games and Asian Paralympics Games (“Announcement”) and the Announcement on the Tax Policies for Three International Comprehensive Sports Events including the 18th Gymnasiade.
In particular, the Announcement provides for an exemption from Customs duties, import VAT and Consumption tax for certain designated consumables, which are imported for organizing sports meets and cannot be produced domestically or whose performance does not meet the needs, and are directly used in sports’ meets.
On the other hand, the special needs materials imported by the organizing committee (including designated sports competition equipment, medical testing equipment, safety guarantee equipment, transportation and communication) shall be handled in accordance with the provision for temporary import of goods during the games. Then, those which are re-exported after the games shall be written off; those which will stay in the PRC or are sold in the domestic market shall go through formal import procedures in accordance with relevant regulations and be subject to relevant Customs duties, import VAT and Consumption tax.
Furthermore, the income received by the organizing committee from the transfer of certain assets after the end of the games will not be subject to VAT and land appreciation tax.
Moreover, expenditures related to funds, materials, supplies and services offered for free or donated by enterprises, social organizations and groups will be deductible in full for EIT purpose. Relevant services that are offered for free by enterprises as per the sponsorship agreement to the organizing committee shall be exempted from VAT.
In addition, pursuant to the Announcement, the following will benefit from exemption from VAT:
Finally, the Announcement specifies that, there will be a Stamp duty exemption on the following:
The above-mentioned tax policies will be implemented from the date of promulgation.
Do not hesitate to contact our Orcom C&A Tax Advisory team at info@orcom-ca.com.cn for additional information and assistance on this matter.
Read more at:
http://szs.mof.gov.cn/zhengcefabu/202004/t20200415_3498579.htm
http://szs.mof.gov.cn/zhengcefabu/202004/t20200415_3498590.htm
Download the full article here.
Kind Regards,
CICC Team
Copyright ©2016 by China-Italy Chamber of Commerce
Website Maintenance China | flow.asia
京ICP备06006969号-1