GAC's New Legislative Efforts to Promote Innovation of Processing Trade
GAC's New Legislative Efforts to Promote Innovation...
China Tax Alert - Issue 36, December 2016
With the domestic market increasingly thriving, great efforts have been made to seek new directions in developing the processing trade. Those innovative projects, such as contract processing occurring within the SCSZ and export processing, have opened a new chapter of processing trade. The General Administration of Customs of China (GAC) has recently released several announcements on the supervision of the processing industry in China so as to ensure that the industry develops in a sound way, and is regulated and uniformly managed by the GAC. Our analysis and recommendations are shared in this tax alert.
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