[Imports Management] Measures of the People's Republic of China Customs on Admin
[2009-02-03 09:13:09]
Measures of the People’s Republic of China Customs on Administration of Reduction and Exemption of Tax for Imported and Exported Goods take its effect since 1st Feb. 2009.
It has further defined some of the behaviors during the process of customs supervision and control. In the new management measures,“for the other uses”is further defined as follows: as long as the application of tax reduction and exemption was applied to and approved by customs authorities ahead of time, goods applied for tax reduction and exemption can be put to other uses in certain area and usage approved by customs.
The new management measures prescribe that if taxpayer pays a security or provides other guarantee equivalent to payable tax to the customs by domestic insurance organs, the customs may lay no restriction on the quantum of loan offering by insurance organs towards enterprises. It indicates that enterprises may obtain more loans from banks.As for import and export enterprises, it helps them to better enjoy policies of tax reduction and exemption for imported and exported goods.
Source: General Administration of Customs
Keywords:Exemption Tax
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