Group 1: Seed and Biological Resources Tax Policies - China has announced tax exemption policies for the import of seeds and biological resources during the 14th Five-Year Plan period, which includes exemptions from import value-added tax for qualifying seeds and wild plant species used for research and breeding [1] - The policy aims to enhance the supply of seed resources, promote biodiversity conservation, and support the importation of working dogs for military and public safety purposes [1] Group 2: Energy Resource Exploration and Development Tax Policies - The Ministry of Finance and other departments have issued tax exemption policies for energy resource exploration and development, including exemptions from import tariffs and value-added tax for equipment used in offshore oil and gas exploration and emergency rescue projects [2] - The policy is designed to improve China's offshore oil and gas exploration capabilities, reduce import costs for related enterprises, and ensure stable energy supply by promoting the utilization of natural gas resources [2]

Core Viewpoint - The Ministry of Finance, General Administration of Customs, and State Taxation Administration have announced tax incentives for energy resource exploration and development during the "14th Five-Year Plan" period, specifically targeting oil and gas exploration in China's marine areas [1][2]. Group 1: Tax Incentives for Exploration and Development - Projects engaged in oil and gas exploration and development in China's marine areas, including self-operated projects and emergency rescue projects for offshore oil and gas pipelines, will be exempt from import duties on equipment that cannot be produced domestically or does not meet performance requirements [2][3]. - For Sino-foreign cooperative projects in oil and gas exploration and development, including "old projects" approved before December 31, 1994, there will be exemptions from both import duties and import value-added tax for necessary equipment [2][3]. Group 2: Tax Refunds for Natural Gas Imports - For cross-border natural gas pipelines and imported LNG receiving and storage projects approved by the National Development and Reform Commission, a certain percentage of the import value-added tax will be refunded. Specifically, 70% of the import VAT will be refunded for natural gas imported under long-term contracts signed before the end of 2014 [3]. - For other natural gas imports, if the import price exceeds the reference benchmark, 80% of the VAT will be refunded based on the price difference, calculated quarterly [3]. Group 3: Implementation and Duration - A list of exempted equipment and tools will be jointly issued by the Ministry of Industry and Information Technology, Ministry of Finance, General Administration of Customs, State Taxation Administration, and National Energy Administration [3]. - The tax incentive policy will be effective from January 1, 2026, to December 31, 2030 [4].

Core Viewpoint - The Ministry of Finance, General Administration of Customs, and State Taxation Administration have issued a notice regarding tax incentives for energy resource exploration and development during the 14th Five-Year Plan period, specifically targeting oil and gas exploration and emergency rescue projects in China's marine areas [1] Group 1 - The notice provides import tax exemptions for equipment, instruments, spare parts, and specialized tools that are directly used for exploration and development operations or emergency rescue projects, which cannot be produced domestically or do not meet performance requirements [1] - The tax exemption applies to self-operated projects in China's marine areas, including internal seas, territorial seas, continental shelves, and other marine resource jurisdiction areas [1] - The policy aims to support the development of the oil and gas industry by reducing operational costs associated with importing necessary equipment [1]