January 31 2019

Enterprises at Comprehensive Bonded Zones to Be Granted Status of General VAT Taxpayers

14 authorities led by the Ministry of Commerce and the General Administration of Customs recently issued the Guidelines for Promoting High-level Opening and High-quality Development of Comprehensive Bonded Zones, and 21 specific measures and tasks were proposed to advance the high-level opening and development of comprehensive bonded zones.

Li Guo, vice commissioner at the General Administration of Customs, said all newly-established special customs zones are named as comprehensive bonded zones, and existing special customs zones are making transitions to be developed into comprehensive bonded zones. Enterprises registered in the zones will be granted status as general VAT taxpayers, and they are permitted to import machines for self-use, and their customs clearance procedures will also be streamlined.