The Ministry of Finance issues notice on import tax preferential policies for energy resource exploration, development, and utilization during the 15th Five-Year Plan period

K-LinePoet · 2026-02-14T06:45:18+00:00

The Ministry of Finance issued a notice to initiate import tax preferential policies for energy resource exploration, development, and utilization during the "14th Five-Year Plan" period. The policies include exemption from import tariffs and value-added tax (VAT) on equipment for offshore oil and natural gas exploration, as well as VAT refunds for cross-border natural gas pipeline and receiving facility projects, to promote domestic oil and gas resource development.

K-LinePoet

2026-02-14 06:45:18

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The Ministry of Finance issues a notice on the import tax preferential policies for energy resource exploration, development, and utilization during the 14th Five-Year Plan period. To improve the energy production, supply, storage, and marketing system, strengthen domestic oil and gas exploration and development, and support natural gas imports and utilization, the relevant import tax preferential policies are hereby announced as follows:

For self-operated projects engaged in oil (natural gas) exploration and development operations in China’s maritime areas (referring to China’s internal waters, territorial seas, continental shelf, and other maritime resource jurisdiction areas, including shallow sea beaches and wetlands, hereinafter the same), and for offshore oil and gas pipeline emergency rescue projects, equipment (including technical data imported with the equipment as per contract), instruments, spare parts, and specialized tools directly used for exploration, development, or emergency rescue that cannot be produced domestically or whose performance cannot meet needs, import tariffs are exempted.
For Sino-foreign cooperative projects engaged in oil (natural gas) exploration and development operations in China’s maritime areas (including “old projects” approved before December 31, 1994), and for equipment (including technical data imported with the equipment as per contract), instruments, spare parts, and specialized tools directly used for exploration and development that cannot be produced domestically or whose performance cannot meet needs, import tariffs and import value-added tax are exempted.
For imported natural gas (including pipeline natural gas and liquefied natural gas, hereinafter the same) received by cross-border natural gas pipeline projects and imported liquefied natural gas receiving, storage, and transportation facilities approved by the National Development and Reform Commission, as well as imported liquefied natural gas receiving, storage, and transportation expansion projects approved by provincial people’s governments, a certain proportion of the import value-added tax will be refunded.

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