Global Trade Alert
Global Trade Alert

China: New Import Tax Rebate on Liquefied Natural Gas

Announcement

01 Aug 2011

On 1 August 2011, the Ministry of Finance issued Notice No. 39 of 2011 to provide conditional relief for selected domestic LNG companies. The meausre is announced to be in force until 2020.

Source

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Number of interventions

2

1 certainly harmful

0 likely harmful

1 liberalising

List of interventions

Implementation date

01 Jan 2011

Revocation date:

29 Dec 2020

Last action: 01 Aug 2011
Tax or social insurance relief
According to the Notice, as long as the import price is higher than the local wholesale market price between 2011 and 2020, the imported liquefied natural gas for Central Asian Pipeline, Shanghai, Jia...
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Implementation date

01 Jan 2011

Revocation date:

29 Dec 2020

Last action: 01 Aug 2011
Import incentive
When import prices are above domestic wholesale prices, 7 specified Chinese importers will benefit from a VAT reduction to compensate for the difference. Refunds would be given proportional to the dif...
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