Five departments have clarified tax policies related to temporary entry for repair in the Shanghai Pilot Free Trade Zone pilot program
2024-07-03
On the 2nd, the reporter learned from the Ministry of Finance that the Ministry of Finance, the Ministry of Ecology and Environment, the Ministry of Commerce, the General Administration of Customs, and the State Administration of Taxation jointly issued a notice recently, clarifying the tax policies related to temporary entry for repair in the China (Shanghai) Pilot Free Trade Zone. The notice states that within the customs special supervision area of the China (Shanghai) Pilot Free Trade Zone (including the Lingang New Area), goods temporarily allowed to enter the pilot area for repair by enterprises from overseas from the date of implementation of the notice will be bonded, and those re transported out of the country will be exempt from tariffs, import value-added tax, and consumption tax; If the goods are not transported out of the country and converted to domestic sales, import procedures shall be handled according to requirements, and import tariffs, import value-added tax, and consumption tax shall be levied in accordance with regulations based on the actual inspection status of the repaired goods. The notice shall come into effect from the date of issuance, and import goods that have been taxed before the notice is issued shall not be refunded with relevant taxes. (Lai Xin She)
Edit:He Chuanning Responsible editor:Su Suiyue
Source:Xinhua
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