BUSINESS Zero-tariff imported aircraft cleared in Hainan with $13.78 mln in tax exemptions

BUSINESS

Zero-tariff imported aircraft cleared in Hainan with $13.78 mln in tax exemptions

ECNS

11:07, September 09, 2022

Aerial photo taken on May 4, 2021 shows the city view in Haikou, capital of south China's Hainan Province. (Photo/Xinhua)

Aerial photo taken on May 4, 2021 shows the city view in Haikou, capital of south China's Hainan Province. (Photo: Xinhua)

(ECNS) -- A zero-tariff imported cargo aircraft was cleared at the customs of Haikou Meilan International Airport in Hainan Province on Thursday, with a tax exemption value of 95.89 million yuan (about $13.78 million).

The Boeing 777-200LRF valued at $100 million is the first large aircraft to be granted zero-tariff treatment at the Hainan Free Trade Port since it implemented its zero-tariff policy on the import of vehicles and yachts, and the tax exemption amount has reached a record high

Imported by Central Airlines, the aircraft will be used for international freight business.

According to the zero-tariff policy on the import of vehicles and yachts in the Hainan FTP, registered enterprises engaged in the transportation and tourism sectors are exempted from import duties, import value-added tax and consumption tax when importing vehicles, aircraft, ships and yachts that meet the requirements of the policy.

As of August 2022, a total of 2,330 enterprises have been included in the zero-tariff list, among which 113 have exported 3.94 billion yuan of related commodities with 954 million yuan of tax exemption.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue