Introduction to Special Customs Areas in China. March 11, 2009

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1 Introduction to Special Customs Areas in China March 11, 2009

2 Today s speaker Rachel Tao Rachel is a Trade & Customs manager from KPMG s Shanghai office. She has been with KPMG s Trade and Customs practice for more than five years. Rachel has worked with a wide range of Chinese and multinational clients ranging from auto part and electronic component manufacturers to luxury branded products distributors and retailers. She has assisted clients on customs compliance reviews, customs valuation defense, tax efficiency supply chain planning and forensic audits.

3 Special Customs Areas and Locations Area 15 Free Trade Zone ( FTZ ) About 60 Export Processing Zone ( EPZ ) About 8 Bonded Logistic Park ( BLP ) 11 Bonded Port ( BP ) 1 Integrated Free Trade Zone ( Integrated FTZ ) 1 Cross-border Zhuhai-Macau Industrial Park Location Bonded Logistic Centre ( BLC, A and B type) Bonded warehouse ( BW, for import only) Export Supervision Warehouse ( ESW, for export only)

4 FTZs in China Dalian Tianjin Qingdao Zhangjiagang Waigaoqiao Ningbo Fuzhou Guangzhou Xiangyu Zhuhai Shantou Shatoujiao Futian Yantiangang Haikou No. Name 1 Waigaoqiao 2 Qingdao 3 Dalian 4 Futian 5 Guangzhou 6 Shatoujiao 7 Shantou 8 Tianjin 9 Zhangjiagang 10 Fuzhou 11 Xiangyu 12 Haikou 13 Ningbo 14 Zhuhai 15 Yantiangang

5 Function of FTZs Entrepot trade Export processing Bonded warehousing Trading Between FTZ and territories outside mainland China Within FTZ and with other FTZs With non FTZ area companies ( if entitled with distribution rights)

6 Taxation of Chinese Enterprises Outside FTZ Purchase goods from FTZ Deemed import Import taxes Sell goods to FTZ enterprise Deemed export VAT refund only after the goods have been physically exported

7 More than 60 EPZs through out China

8 EPZ Foreign Enterprise Overseas PRC EPZ Domestic Entity

9 Export Processing Zone Function expansion Before 2005: Only substantial manufacturing and its related warehousing and transportation is allowed Function expansion in 2005: Repair or testing services are allowed upon approval Now: 7 Pilot EPZs Logistic, R&D, testing and after-sale repair of exported products are allowed Non-substantial manufacturing activities are allowed

10 EPZ Enterprises tax policy No import duty or VAT on imported materials No export duty on export goods No VAT or CT on goods for direct export or sale inside EPZ at the processing stage within EPZ No tax refund on goods exported by EPZ enterprises

11 BLPs in China No. Name Tianjin Dalian Qingdao Zhangjiagang Waigaoqiao Ningbo 1 Waigaoqiao 2 Qingdao 3 Dalian 4 Tianjin 5 Zhangjiagang 6 Xiangyu, Xiamen 7 Ningbo Fuzhou Xiangyu Guangzhou Yantiangang 8 Yantian, Shenzhen 9 Fuzhou 10 Guangzhou

12 BLP / BLC - Function International Transfer and Consolidation Centre International Distribution Centre International Procurement Centre International Entrepot Trade Centre

13 Business Activities in BLP / BLC Bonded warehousing and logistics industry International procurement and distribution Testing or maintenance services Display of bonded goods Simple processing and value-added services Other international logistic services upon approval from Customs authority No processing, manufacturing, retail, dismantling or renovation allowed

14 Bonded Port 洋山港

15 Bonded port functions and tax policy 3+1: A combination functions of FTZ, EPZ and BLP Bonded manufacturing Bonded warehousing and logistics International procurement and distribution Testing or maintenance Simple processing and value-added services Other international logistic services Export VAT refund for domestic goods upon entrance Export tax refund for domestically manufactured equipment Import VAT for goods entering domestic market

16 Other customs special area or locations Integrated Free Trade Zone (enjoy similar policy as BP) Cross-border Zhuhai-Macau Industrial Park (enjoy similar policy as BP) Export Supervision Warehouse (for export goods only) General type Export tax refund type Bonded warehouse (for import goods only)

17 Suzhou Integrated Free Trade Zone First Integrated FTZ in China A combination of functions of all special customs areas in China 80km from Shanghai, a convenient location Enjoy all preferential policies in China regarding Customs, Tax and Foreign exchange

18 Export Via Special Customs Areas Income TradeCo Bonded Logistics Parks Free Trade Zones? Export Processing Zones? China MFG China Customer

19 Q & A The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

20 Presenter s contact details Rachel Tao KPMG Shanghai, Tax The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation KPMG, a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in Hong Kong.

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