China Tax Alert - Issue 25, September 2013
On 28 December 2012, the 30th Session of the Standing Committee of the Eleventh National People’s Congress (NPC) passed a resolution authorising the State Council to temporarily amend certain administrative examination and approval procedures for the processing trade and the domestic sale of bonded material or finished goods in Guangdong Province for a period of three years.
Until September 2013, the Ministry of Commerce (MOFCOM) and the General Administration of Customs (GAC) has issued the mentioned regulation/notice respectively, to specify the scope and the detailed arrangements of the resolution. Due to this new regulation/notice, processing trade enterprises in Guangdong Province will be subject to simpler and more flexible examination and approval procedures involving Customs and the Bureau of Foreign Trade and Economic Cooperation (BOFTEC).
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