CHINA will refund local companies the tariffs and value-added tax they paid on imports of key parts and raw materials for manufacturing wind-power equipment as the world's fastest-growing economy promotes cleaner energy.
The rebates are backdated to January this year, the Beijing-based Customs General Administration of China said in a statement on its Website yesterday. The benefit only applies to parts and materials imported for making wind turbines with a capacity of 1.2 megawatts or more, it said. The government will scrap the tax benefit given to domestic and foreign companies for importing fully assembled wind-power units with less than 2.5 megawatts of capacity from May 1, Customs said.
Shanghai Daily