CaiGuanShui Notice [2014] No.37 China Cancels Processing-Trade Bonded Import of Steels
[2014-07-23 16:36:39]
To local authorities of finance, customs and state taxation:
In accordance with State Council's Guidelines (GuoFa [2013] No.41) on eliminating bonded importation of steels by processing trade, relevant matters are hereby announced:
1. The first batch of steel products under 78 HS Codes including hot-rolled plate, cold-rolled sheet, ribbon steel, rod and wire, section bar, and electrical steel, which can be made in China with required quality (see the Annex for product list) shall be excluded from the bonded importation of steels under/by means of processing trade and shall be subjected to import duties and taxes on and after July 31, 2014.
Where a processing-trade contract is concluded before July 31, 2014 and such steels thereunder are really imported before December 31, 2014, the bonded importation may be permitted during the validity period of the contract.
2. The measures above are applicable to customs supervision zones such as comprehensive bonded zones; nevertheless exception may be temporarily accorded to the enterprises that are established and engaged in processing trade of the Annexed products before July 31, 2014 within the customs supervision zones.
Annex: List of Steel Products Excluded from Bonded Import by Processing Trade
The Ministry of Finance of China
The General Administration of Customs of China (GACC)
The State Administration of Taxation of China
July 2, 2014
In accordance with State Council's Guidelines (GuoFa [2013] No.41) on eliminating bonded importation of steels by processing trade, relevant matters are hereby announced:
1. The first batch of steel products under 78 HS Codes including hot-rolled plate, cold-rolled sheet, ribbon steel, rod and wire, section bar, and electrical steel, which can be made in China with required quality (see the Annex for product list) shall be excluded from the bonded importation of steels under/by means of processing trade and shall be subjected to import duties and taxes on and after July 31, 2014.
Where a processing-trade contract is concluded before July 31, 2014 and such steels thereunder are really imported before December 31, 2014, the bonded importation may be permitted during the validity period of the contract.
2. The measures above are applicable to customs supervision zones such as comprehensive bonded zones; nevertheless exception may be temporarily accorded to the enterprises that are established and engaged in processing trade of the Annexed products before July 31, 2014 within the customs supervision zones.
Annex: List of Steel Products Excluded from Bonded Import by Processing Trade
The Ministry of Finance of China
The General Administration of Customs of China (GACC)
The State Administration of Taxation of China
July 2, 2014
Source: ETCN
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