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The duty-free policy for imported vehicles used in the operation of the Hainan Free Trade Port landed on the mainland and the time of stay should not exceed 120 days throughout the year.
Our reporter Pei Yu reports from Beijing
When the boom in consumption brought on by duty-free duty in the outer islands continues and the market begins to pay attention to the next new growth point of the Hainan Free Trade Port, a question mark will be placed in front of them. When will import duty-free cars arrive with larger quantities of one piece? This question finally got a “partial” answer on December 29.
On December 29, the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation issued the “Notice on” Zero Fee “Policy for Vehicles and Yachts of Hainan Free Trade Port.” This document covers yachts, airplanes, automobiles and other vehicles and, in accordance with relevant laws and regulations, is exempt from import duties, import value added taxes, and excise taxes.
However, this tax exemption policy is only for cars operated by companies that are compliant in the Hainan Free Trade Port. Regarding the question of whether cars imported for residential use, which have a broader scope and are more related to the life and consumption of the general public, are exempt from tax, at the time of this reporter’s publication, the official has not yet made a clear statement.
Tax free and then land
In June 2020, the “Master Plan for the Construction of Hainan Free Trade Port” (hereinafter the “Plan”) was officially announced. According to the proposed construction ideas in the “Plan”, in 2025, the Hainan Free Trade Port will achieve “customs closure operations”, and by then, the Hainan Free Trade Port will achieve “zero tariffs”.
Before the “customs closure operation” in 2025, the Hainan Free Trade Port will implement a “positive list” management system in terms of tariffs. Products on the positive list will enjoy the corresponding tax exemption policies . “The positive list is dynamically adjusted and new products can be added. Of course, some products will be removed according to changes in market conditions and regulatory needs. The positive list determines which products are tax-free,” he told journalists a person in charge of a core company who has invested in Hainan for a long time. .
According to the “Plan,” the Hainan Free Trade Port must establish a list of “one negative and three positive” before customs operations on the island are closed. The negative list refers to the management of the zero tariff negative list of autonomous equipment imported by the companies, and all products outside the negative list are exempt from tax.The three positive lists areThat is, for transportation used for import operations, imported raw materials and auxiliary materials for production for own use or production and processing activities in the two-way mode, and imported goods consumed by residents of the island, the three positive lists are exempt from taxes.
Prior to this, the Hainan Free Trade Port achieved tariff exemption in two respects. The first is duty-free shopping in the outer islands. Products on the positive list may be exempt from import duties within the limit of 100,000 yuan per person per year if the products on the positive list have a valid outlying island certificate. The second is specifically aimed at “double-ended” processing companies at the Hainan Free Trade Port. There is also a “positive list” for imported raw materials and parts, and the products on the list also enjoy tax exemption policies under the regulations.
And now, the scope of this exemption from import duties continues to expand. On December 30, the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation issued the “Notice on the” Zero Fee “Policy for Vehicles and Yachts of the Hainan Free Trade Port” (hereinafter referred to as The advertisement”). Products with higher quotas entered the field of “zero tariffs” for the first time.
“This document was actually issued on Christmas Day. We all joke that this is a Christmas gift for the Hainan Free Trade Port.” The person in charge of the aforementioned core enterprises in Hainan told reporters: “However, cars here are strictly regulated. The limit is not for personal use, but for imported cars for business operations, which may be ‘zero tariffs. ‘”He emphasized to reporters.
Limited partnership “operations”
