GACC-MOFCOM Announcement No.33, 2017 on Revoking Processing-Trade Bank-Deposit Account Book
[2017-07-27 10:11:50]
In accordance with State Council Notice of GUOFA [2016] No.4, the GACC has decided to revoke processing-trade bank-deposit account book all over China.
Relevant matters:
1. Where the bank-deposit account book is “idle” as per GACC Announcement No.63 of 2015, the processing-trade enterprise may set processing-trade manual/account without the deposit account book and without the guarantee for restricted processing-trade items.
2. Where the bank-deposit account book is “working” as per GACC Announcement No.63 of 2015, a transitional period may be set from 1 August 2017 till 1 February 2018. During the transitional period, the processing-trade enterprise should continue the “working” account book formalities as per GACC Announcements No. 5 of 2010 and No. 61 of 2014; when the transitional period is over, the GACC will give separate instructions then.
This Announcement shall enter into force on 1 August 2017.
General Administration of Customs of China (GACC)
Ministry of Commerce of China (MOFCOM)
July 15, 2017
Relevant matters:
1. Where the bank-deposit account book is “idle” as per GACC Announcement No.63 of 2015, the processing-trade enterprise may set processing-trade manual/account without the deposit account book and without the guarantee for restricted processing-trade items.
2. Where the bank-deposit account book is “working” as per GACC Announcement No.63 of 2015, a transitional period may be set from 1 August 2017 till 1 February 2018. During the transitional period, the processing-trade enterprise should continue the “working” account book formalities as per GACC Announcements No. 5 of 2010 and No. 61 of 2014; when the transitional period is over, the GACC will give separate instructions then.
This Announcement shall enter into force on 1 August 2017.
General Administration of Customs of China (GACC)
Ministry of Commerce of China (MOFCOM)
July 15, 2017
Source: ETCN
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