Recently, the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation jointly issued the “Notification on Trial Export Rebates Policies on Financial Leasing in Tianjin Dongjiang Free Trade Port Zone”
The “notification” stipulated that the trial value-added tax rebate and consumption tax export rebate were enjoyed by the financial leasing enterprises registered in Dongjiang Free Trade Port Zone or the project subsidiary companies established by such enterprises in Dongjiang Free Trade Port Zone which rent items to overseas clients for at least five years and in the form of financial leasing and cleared the export items at Tianjin customs. In addition, for ocean engineering structures which were purchased by financial leasing companies from domestic manufacturers and then were rent to designated oil and gas exploitation enterprises that working on Chinese domestic seas for at least five years and in the form of financial leasing, they will be deemed as exports and thus enjoy the same rebate.
The notification explicitly included the large- scale equipment like railway locomotive vehicle and offshore structures, etc. into the range of enjoying export rebates. This will not only further enrich the variety of leasing enterprises in Dongjiang, but will also facilitate the coordinated economic development in the region and make Dongjiang be one step closer to an international free trade port.