PetroChina Jiangsu LNG Terminal in Rudong county, Nantong, Jiangsu province. [Photo/Nantong Daily]

Recently, Jiangsu PetroChina International completed the online VAT refund for imported natural gas under the guidance of Rudong Customs. This marks the Nanjing Customs district's first such transaction.

Traditionally, businesses had to submit physical documents for tax refunds, often requiring multiple trips to the customs office. With the International Trade "Single Window" system, companies can submit applications and supporting materials online, significantly streamlining the process.

The "VAT first collected, then refunded" policy for imported natural gas is key to boosting energy exploration and utilization. Incorporated as a pilot initiative in Jiangsu at the end of 2023, the system facilitates corporations to electronically submit and revise refund applications, accelerating the approval procedure.

According to Rudong Customs, from January to August this year, the region imported 4.35 million metric tons of liquefied natural gas, an 8.2 percent year-on-year increase.