Zero-tariff imported aircraft cleared in Hainan with $13.78 mln in tax exemptions

Aerial photo taken on May 4, 2021 shows the city view in Haikou, capital of south China's Hainan Province. (Photo/Xinhua)

(ECNS) -- A zero-tariff imported cargo aircraft was cleared at the customs of Haikou Meilan International Airport in Hainan Province on Thursday, with a tax exemption value of 95.89 million yuan (about $13.78 million).

The Boeing 777-200LRF valued at $100 million is the first large aircraft to be granted zero-tariff treatment at the Hainan Free Trade Port since it implemented its zero-tariff policy on the import of vehicles and yachts, and the tax exemption amount has reached a record high

Imported by Central Airlines, the aircraft will be used for international freight business.

According to the zero-tariff policy on the import of vehicles and yachts in the Hainan FTP, registered enterprises engaged in the transportation and tourism sectors are exempted from import duties, import value-added tax and consumption tax when importing vehicles, aircraft, ships and yachts that meet the requirements of the policy.

As of August 2022, a total of 2,330 enterprises have been included in the zero-tariff list, among which 113 have exported 3.94 billion yuan of related commodities with 954 million yuan of tax exemption.