Government Releases Tax Policies for Second Batch of Pilot FTZs

On June 8, the Ministry of Finance (MOF), General Administration of Customs (GAC) and the State Administration of Taxation (SAT) jointly issued the Circular on Relevant Import Tax Policies for the Guangdong, Tianjin and Fujian Pilot Free Trade Zones, for implementation as of the official establishment of the respective free trade zones.

The Circulars lay out several import tax policies:

• Policies which have been implement in the Shanghai Pilot Free Trade Zone may, in principle, be replicated in the subsequent three free trade zones.
• Selective tariff collection policies will tentatively be carried out in special customs supervision areas for specific goods subject to the application of enterprises.
• Permission to establish bonded exhibition trade platforms.