Comprehensive bonded zones are special commercial areas managed by customs officials that feature favorable taxation policies.
China aims to build its comprehensive bonded zones into globally competitive centers for process manufacturing, research and design, logistics, maintenance, repair and sales services.
Shanghai Dongjin finds some of the main points as follows.
- The general taxpayer status of VAT will be piloted in the comprehensive bonded zones.
- Manufacturers within the zones will be able to import the machine and equipments for own use duty-free.
- Processing and manufacturing companies in the zones will be permitted to undertake outsourced processing businesses from outside the zones of the mainland market.
- Cellphones and automobile components made in the zones will be sold in China without import licenses.
- Enterprises in comprehensive bonded zones can take advantage of preferential tax and foreign exchange policies to facilitate their export manufacturing and logistics.
- Except for the prohibiting entry, enterprises in the comprehensive bonded zones are exempted from submitting licenses for goods and commodities imported from abroad and used for R&D purpose. Consumable materials imported are written off according to actual consumption.
- The newly established R&D, design, processing and manufacturing enterprises in the comprehensive bonded zones shall be directly granted the highest credit rating if they meet the relevant standards after evaluation.
- No registration or filing procedures may be applied for the import of medical devices for R&D and display by enterprises in the comprehensive bonded zones.
- It is allowed to implement a convenient management for goods and commodities entering and leaving the territory which are not subject to the export tariffs, trade control certificates, tax rebates and customs statistics.
- It is allowed to carry out the business of bonded storage and display of imported automobiles in the comprehensive bonded zones of the automobile import port.
- Enterprises in the comprehensive bonded zones are allowed to carry out high-tech, high value-added, environmentally friendly bonded inspection and global maintenance It is to support the third-party inspection and inspection certification agencies to carry out import and export inspection and certification services in the comprehensive bonded zones.
- Enterprises in the comprehensive bonded zones are allowed to carry out remanufacturing operations such as aerospace, construction machinery and numerical control machine tools with high technology content and high added value.
- For enterprises in the comprehensive bonded zones importing approved human vaccines or in vitro diagnostic reagents from abroad, the inspection is allowed to be conducted in the comprehensive bonded zones with the necessary regulatory and inspection conditions.
- For the financial leasing companies registered in the comprehensive bonded zones, and when its import and export the large equipments aircraft, ships and offshore engineering structures, which involve in the cross-customs areas, the customs custody and administration shall be carried out in different places according to the actual needs of logistics, on the premise of ensuring effective supervision and implementation of the current relevant tax policies.
- Supporting enterprises in the comprehensive bonded zones to carry out cross-border e-commerce import and export business.
- Enterprises in the comprehensive bonded zones are allowed to import professional equipment to carry out international service outsourcing business such as software testing, cultural creativity and so on, so as to promote cross-border service trade.
If you have any question, please contact me.
Mr. Mike Chang
TEL: 0086-21-68868321 / FAX: 0086-21-68868021