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What is the current issues on the Catalogue of Commodities prohibited from processing trade?
The Ministry of Commerce, General Administration of Customs and State Environmental Protection Office has now issued the new “Catalogue of Commodities Prohibited from Processing Trade” (the Catalogue). The key relevant issues are as follows:
Contracts involving processing trade services permitted by the departments of commerce before 22 November 2006 are allowed to be filed with customs, this should be in accordance with the relevant provisions and completed before the related contracts expire. Enterprises under customs’ online supervision are permitted to complete their contracts before 22 November 2007. No extensions will be allowed for uncompleted contracts, which will be handled according to the relevant processing trade provisions.
Enterprises applying for domestic sales shall follow the relevant provisions and pay interest on deferred tax payments at the current deposit interest rates announced by the People’s Bank of China in the year prior to the date printed on customs’ tax statements.
The announcement applies to bonded zones, export processing areas and other areas under customs’ special supervision. Enterprises which, have been established in these areas before the announcement, shall not be affected.
The provisions related to the prohibition of processing trade in pesticides and coal contained in the “Announcement No 105/2005 of the Ministry of Commerce, General Administration of Customs and State Environmental Protection Office” are replaced by the relevant provisions in this announcement. Other provisions in the announcement No. 105 remain effective.
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