The three departments introduce tax incentives for supporting technological innovation imports during the "14th Five-Year Plan" period

The Ministry of Finance, General Administration of Customs, and State Taxation Administration issued a notice regarding tax incentives for imports to support scientific and technological innovation during the 14th Five-Year Plan period. It states that scientific research institutions, technology development agencies, schools, Party schools (administrative colleges), and libraries importing scientific research, technological development, and teaching supplies that cannot be produced domestically or whose performance cannot meet needs, are exempt from import tariffs, value-added tax (VAT), and consumption tax at the import stage. For publication import units such as scientific research institutions, technology development agencies, schools, Party schools (administrative colleges), and libraries importing books and materials for scientific research and teaching, VAT at the import stage is also exempted.