Ministry of Finance, General Administration of Customs and State Administration of Taxation, Circular on Launching the Pilot Project for Export Tax Rebate for Vessels under Lease Financing in the Tianjin Municipality

财政部、海关总署、国家税务总局关于在天津市开展融资租赁船舶出口退税试点的通知

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Tianjin exempts tax on sale of vessels to foreign lessees.

Issued: March 30 2010
Effective: April 1 2010

Applicability: The term “lease financing” refers to the transaction whereby a lessor leases a vessel obtained from the supplier to the lessee for occupation and use for rental fees in accordance with the stipulations of the contract and based on the lessee's selection or approval in respect of the leased object and the supplier (Article 1).

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