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New Zero-tariff Measures on Raw Materials Imported into Hainan Free Trade Port
15 December 2020
The General Administration of Customs (GAC) recently issued a set of measures for the customs supervision of zero-tariff raw and auxiliary materials imported into the Hainan free trade port (Cai Guan Shui No. 121 [2020]). Under the measures, which took effect on 1 December, “zero tariff” positive list requirements are to be implemented on imported raw and auxiliary materials intended for use either by importing enterprises themselves or in processing trade (or service trade) activities “with both ends outside the mainland”, as outlined in the master plan for Hainan free trade port.
Materials on the positive list which are consumed by enterprises in the Hainan free trade port for relevant activities are exempt from a variety of taxes. These materials can only be used by enterprises in the Hainan free trade port for production and may not be transferred either within or out of the island.
Source: General Administration of Customs
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