Three Departments: Canceling the Tax Exemption Quota Management of “Thirteenth Five-Year Plan” Tax Policy on Imported Seed Sources

Recently, the Ministry of Finance, the General Administration of Customs and the general Administration of Taxation issued a notice abolishing the tax exemption quota management of “13th Five-Year Plan” tax policy for imported seed sources, which will be implemented from the date of issuance of the notice.

For a long time, China has exempted imported seeds (seedlings), breeding animals (poultry), fish species (seedlings) and species of wild animals and plants from import VAT, supported the introduction and promotion of improved varieties, intensified the protection of species resources, enriched China’s animal and plant resources, and developed high-quality, the high-yield and efficient agriculture and forestry.

The cancellation of tax exemption quota management will further promote relevant units to reliably determine the import scale according to the market conditions and promote the development of agriculture and forestry.

In future, the Ministry of Finance will continue to work with relevant departments to persistently improve the management of import tax policies.