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Hainan Free Trade Port, China opened the first shipment of goods with zero tariff from taxes

Haikou Meilan Airport Customs, a subsidiary of Haikou Customs, has successfully accepted the cargo of Hainan Airlines Holdings Co., Ltd. - Meteorological radar transceivers worth 3.813 million yuan, goods were quickly cleared by customs, put into production and use. They became the first zero-tariff raw materials and ancillary products in Hainan Free Trade Port, exempt from tax of 530,200 yuan. The first "zero tariff" list of the Hainan Free Trade Port was officially launched.

 

With the approval of the State Council, as early as November 11, 2020, the Ministry of Finance, General Administration of Customs and State Tax Administration issued the "Notice of the zero tariff policy for raw materials of the Hainan Free Trade Port." The policy specifies that prior to the commencement of the customs operation on the island, enterprises registered in the Hainan Free Trade Port and having an independent legal entity are imported for production for their own use, raw materials and auxiliary materials from the positive list consumed in the process of trade are exempt from import duties , value added tax and consumption tax.

 

The "zero tariff" policy for raw materials and auxiliary materials provides for list management, and this list will be dynamically adjusted according to Hainan's actual needs and regulatory conditions. In order to implement the "zero tariff" policy for raw materials and accessories of the Hainan Free Trade Port, Haikou Customs has actively organized key forces to do a good job of developing a regulatory system, formulating regulatory measures, deploying regulatory forces and a policy of transparency.

 

You can watch hundreds of videos of excursions on the island of Hainan here: https://vk.com/videos-51202698

 

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