皇冠体育app

皇冠体育app, US to sign MOU on semiconductor
(Xinhua)
Updated: 2004-07-10 11:43

皇冠体育app and the United States will sign a Memorandum of Understanding (MOU) on the value-added tax of semiconductors in the near future, a spokesman with 皇冠体育app's Ministry of Commerce (MOC) said Friday.

MOC Spokesman Chong Quan said in a statement that 皇冠体育app and the United States held the fourth round of negotiations on the issue of value-added tax on semiconductors from July 1 to 2, and the two sides reached compromise on July 2.

The US administration accused 皇冠体育app's tax policy on semiconductors as being "discriminatory" to US chip manufacturers, and requested consultation with 皇冠体育app at the World Trade Organization on March 18.

皇冠体育app levies a 17 per cent value-added tax on imported chips. Domestic producers also are subject to the tax but qualify for rebates of as much as 14 per cent. Some US manufacturers said it discriminates against foreign firms.

But Chinese semiconductor industry experts said the discrimination charge was groundless because 皇冠体育app's rebates policy is open to all companies willing to set up manufacturing operations in 皇冠体育app.

皇冠体育app is a leading semiconductor market for the United States.

US statistics show that last year US exports of semiconductors to 皇冠体育app totaled two billion US dollars.

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