China Tax Alert - Issue 17, August 2013
The General Administration of Customs (GAC) issued Notice No. 36  on 8 July 2013 to clarify the requirements and procedures for granting preferential treatment to goods that are imported through special customs supervision areas and bonded supervision entities (collectively referred to as ’bonded zones’).
This new regulation applies to products deemed to qualify for preferential tariffs, either under a free trade agreement (FTA) or in accordance with special preferential duty rates for least developed countries — as evidenced by a valid certificate of origin (COO) or origin declaration (OD) — which are first entered and stored in bonded zones.
© 2020 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in China, KPMG, a Macau partnership and KPMG, a Hong Kong partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited ("KPMG International"), a private English company limited by guarantee. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.