Preferential Policies of Guangzhou Nansha Free Trade Port
Release time: Sep 26, 2018
1. Goods imported from outside to the port area shall be exempt from import duties and taxes withheld by the customs, except those subject to duties in accordance with relevant provisions;
2. Outbound goods transported from the port area shall be exempt from export duties;
3. Goods transported to regions outside the port area in the context of preferential trade agreement may apply for preferential tax rate;
4. Inward circulation goods shall be exempt from relevant import and export taxes;
5. The exported goods and part of the goods used in the port area are subject to “tax rebates once in the port area” and “foreign exchange settlement once in the port area”;
6. Spare part replacement on items within the port area is subject to tax rebates;
7. Water, electricity and gas consumed by enterprises in the port area in the production of exported goods are entitled to refund of VAT previously covered.
Processing Trade Policy
1. Port-area-based enterprises are subject to shadow margin account scheme for processing trade or contract verification system;
2. “Outside processing” is allowed;
3. Processing trade goods within the port area are entitled to a supervision mode of “checking instead of monitoring”;
1. Goods transported between the port area and outside regions are to be bonded;
2. Goods transported between the port area and other bonded supervision areas are subject to bonded supervision;
3. There will be no storage period for goods within the port area.
Goods Entry-Exit Policy
1. Goods transported between the port area and outside regions are not subject to export quotas and license management;
2. Inward commodity display is exempt from display approval application procedures, and outbound exhibition is entitled to applying for temporary entry procedures;
3. Inward goods can travel freely;
4. Port-area-based enterprises may carry out after-sales maintenance service for exported mechanical and electrical products;
5. Imported goods within the port area are not subject to the restriction of “three months”;
6. Some goods do not need to use transportation supervised by the Customs;
7. Enterprises can choose declaration sites;
8. Port-area-based enterprises can apply for centralized declaration.
Foreign Exchange Management Policy
1. Enterprises are subject to relevant foreign exchange management policies relating to bonded supervision areas;
2. Port -area-based enterprises can choose RMB or foreign exchange settlement;
3. Trade between port-area-based enterprises and outside regions are not subject to foreign exchange receipt and payment verification procedures;
4. When selling goods in the district outside the district, the seller can apply to pay in foreign exchanges.