Hainan Free Trade Port's first shipment port tax refund policy is implemented

Hainan Yangpu Economic Development Zone announced on the 7th that in January this year, the Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation jointly issued the "Tax Refund Policy for the Pilot Departure Port of the Hainan Free Trade Port" "Notice" has been officially implemented today.

Relevant departments of Yangpu Economic Development Zone introduced that three export containers containing home appliance accessories produced by Foshan Yiriying Import and Export Co., Ltd. were aboard the same ship "Yuantai 28" for domestic and foreign trade on voyage 305S in April. It will be shipped from Nansha Port in Guangzhou on the 3rd. After tax refund declaration at the port of departure, it will be exported to Bangladesh via Yangpu Port in Hainan. The tax refund amount declared for this ticket is 64,650.12 yuan. After using the port of departure to declare the tax refund, Nansha export enterprises can transit through Yangpu Port for tax refund 2-6 days earlier than normal, which can effectively reduce the operating costs of the enterprise.

Lin Jingjing, deputy director of the Shipping Office of the Yangpu Administrative Committee, introduced that Yangpu is currently working hard to promote domestic and foreign trade same-vessel transportation and departure port tax refund business between Yangpu Port and the 15 departure ports on the pilot tax refund policy . With the gradual implementation of free trade port policies such as tax rebates at the port of departure and the subsequent bunkering of bonded oil on the same ship for domestic and foreign trade, inland export sources will be guided to gather in Yangpu, adding another impetus to the free and convenient transportation of Hainan Free Trade Port.

The same domestic and foreign trade ship "Yuantai 28" ship voyage 305S was exported to Bangladesh via Yangpu Port in Hainan. Photo courtesy of Yangpu Economic Development Zone

Tax rebate at the port of departure is an institutional innovation based on export tax rebate, which requires the full cooperation and close cooperation of customs, taxation, and port and shipping enterprises in the port of departure and transit port. Under normal circumstances, export enterprises need to transport the goods to the exit port and go through customs clearance procedures before they can apply for tax refund from the tax department. After the implementation of the tax refund policy at the port of departure, the goods will be deemed to be exported after the goods are released at the port of departure, and tax refund procedures can be handled with the tax department.

The container throughput of Yangpu Port last year was 1.0193 million TEU, and foreign trade accounted for about 20%. Lin Jingjing said that the implementation of tax rebates at the departure port will help attract the concentration of foreign trade goods, develop value-added services such as warehousing, consolidation, and distribution, and increase the comprehensive competitiveness of ports and shipping. (End)