The Ministry of Finance (MOF) released on February 18, 2024 the Circular on the Pilot Implementation of Preferential Stamp Tax Policy on Offshore Trade in China (Shanghai) Pilot Free Trade Zone and Lin-gang Special Area (MOF and STA No.8 (2024) Document).
According to the Circular, during the period from April 1, 2024 to March 31, 2025, the contract note of offshore resale business carried out by the enterprises registered in China (Shanghai) Pilot Free Trade Zone and Lin-gang Special Area will be exempted from stamp duties, and the offshore resale business refers to the transaction in which a resident enterprise purchases goods from a nonresident enterprise and then resells them to another nonresident enterprise without making the goods enter or exit China's customs territory.