The government announced a revision to customs tax reduction which includes the extension of customs reduction for environment protection products for two years and adjusted factory automation equipment eligible for customs reduction. Equipment for new renewable energy resources that is eligible for the customs reduction has also been revised.
The current 56 products will be adjusted to 44, as 17 rarely imported products will be removed and 5 new products will be added.
The current 84 will be adjusted to 71, as 19 rarely imported products will be removed and 6 new products will be added.
The customs reduction extension for environment protection products will be applied to small- and medium-sized enterprises (SMEs), and the factory automation equipment customs reduction is also aimed at manufacturing SMEs.
The revision will take effect starting on January 1, 2014.