Value-added Tax (VAT) and Customs Duty Sample Clauses

Value-added Tax (VAT) and Customs Duty. The standard VAT rate is 17% with a lower rate of 13%. Some essential goods are exempted and export goods are zero-rated. In the past, capital equipment imported by FIEs into China was exempted from customs duty and VAT. This exemption was suspended, with certain exceptions which effect from April 1996. With VAT on import at 17% and variable rates of import duty, the cost of investing into China escalated substantially. As a result, foreign investments into China dwindled in 1997. In January 1998, the State Council announced that the exemption policy on VAT and customs duty would be resumed, but only on the import of capital equipment of those projects identified in either the “encouraged” or “restricted” (B) categories of the Catalogue for the Guidance of Foreign Investment Industries which came into force on January 1, 1998.
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Related to Value-added Tax (VAT) and Customs Duty

  • Value Added Tax (VAT Where appropriate, VAT will be added to the fees or charges on your investment.

  • Value Added Tax (a) All consideration expressed to be payable under a Finance Document by any Party to a Finance Party shall be deemed to be exclusive of any VAT. If VAT is chargeable on any supply made by any Finance Party to any Party in connection with a Finance Document, that Party shall pay to the Finance Party (in addition to and at the same time as paying the consideration) an amount equal to the amount of the VAT.

  • Customs duty 1. A customs duty shall include any duty or charge of any kind imposed on or in connection with the importation of goods, including any form of surtax or surcharge, but shall not include any:

  • Goods and Services Tax (GST (a) For the purposes of clause 9:

  • VAT (a) All amounts expressed to be payable under a Finance Document by any Party to a Finance Party which (in whole or in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is chargeable on that supply, and accordingly, subject to paragraph (b) below, if VAT is or becomes chargeable on any supply made by any Finance Party to any Party under a Finance Document and such Finance Party is required to account to the relevant tax authority for the VAT, that Party must pay to such Finance Party (in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of the VAT (and such Finance Party must promptly provide an appropriate VAT invoice to that Party).

  • Goods and Services Tax You shall be responsible for all goods and services tax and all other taxes imposed on or payable in respect of any amount required to be paid under this Agreement. We may debit the amount of such tax to your Card Account.

  • Customs Duties (1) Aircraft operated in international air services by the designated airlines of one Contracting Party, their regular equipment, fuel, lubricants, consumable technical supplies, spare parts including engines, and aircraft stores (including but not limited to such items as food, beverages and tobacco) which are on board such aircraft shall be exempted by the other Contracting Party on the basis of reciprocity from all customs duties, excise taxes and similar fees and charges not based on the cost of services provided on arrival, provided such regular equipment and such other items remain on board the aircraft.

  • Customs Upon Apple's request, Seller will promptly provide Apple with a statement of origin for all Goods and any relevant Customs documentation for such Goods.

  • Customs Cooperation 1. The Parties shall develop customs cooperation to ensure that the provisions on trade are observed. For this purpose they shall establish a dialogue on customs matters.

  • Procurement of Goods and Services (a) If the HSP is subject to the procurement provisions of the BPSAA, the HSP will abide by all directives and guidelines issued by the Management Board of Cabinet that are applicable to the HSP pursuant to the BPSAA.

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