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Harmonising China Free Trade Agreements with bonded zones

Harmonising China Free Trade Agreements with bond...

China Tax Alert - Issue 17, August 2013  

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 The General Administration of Customs (GAC) issued Notice No. 36 [2013] 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.  

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