New Bonded Logistics Center Established in Zhongshan
Mar. 29 – The bonded logistics center of Zhongshan became operational at the beginning of 2010 as one of the city’s 11th five-year plan key projects.
Under the supervision of the General Administration of Customs (GAC), the bonded logistics center is operated by one legal enterprise. It is also joined by many enterprises which are engaged in store and logistics businesses under the approval of the GAC.
- Zhongshan’s bonded logistics center is currently the only special customs supervision area in the west Pearl River Delta region. It is constructed with the approval of four departments, including the GAC, thus granting it “internal and external” policy advantages
- If domestic goods are sent to the logistics center, they will be regarded as export goods and will enjoy export tax refund policy
- Goods in the logistics center sold domestically will be regarded as imported goods and will be charged an import tax according to their relevant provisions
- Goods in the logistics center from overseas will be regarded as bonded unless otherwise specified under the laws and regulations
- Goods in the logistics center that are sold to overseas will not be imposed export tariffs, except for others stipulated by laws and regulations
- The enterprises in the logistics center can deal with the stored goods by liquidity simple processing and value-added services
Foreign exchange policy advantages
- During trade between the logistics center and overseas, enterprises in the logistics center will not need to handle payment verification procedures
- If domestic enterprises import goods from the logistics center, they can pay the enterprises in the center itself or the overseas enterprises directly. If domestic enterprises exports goods to the logistics center, they can get the payment from those enterprises in the logistics center or directly from overseas
Other preferential tax advantage
- Enterprises conducting simple transactions or trading directly with other enterprises within the center shall be exempt from VAT and consumption tax
- The trade and circulation between enterprises in logistics center, or between the logistics center and export processing zones or bonded harbor area, shall be exempt from VAT and consumption tax
- There are four major seaports near Zhongshan harbor: Xiaolan harbor, Hong Kong port, Shenzhen port, and Guangzhou port
- There are several major roadways running through Zhongshan: the Zhongshan-Jiangmen expressway, Beijing-Zhuhai expressway and the Zhongshan-Shenzhen which is under planning and construction. About 1 kilometer towards Minzhong gains access to the Beijing-Zhuhai Highway which connects with the Zhongshan-Panyu highway and other main road networks.
- There are five international airports within 90 kilometers of Zhongshan which can be reached within an hour and a half by car: Guangzhou, Shenzhen, Zhuhai, Hong Kong and Macau
- Previous Article Filing Deadlines for Taxpayers in Hong Kong Approaching
- Next Article Chris Devonshire-Ellis:Bribery More Likely Among Overseas Chinese Staff