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General Administration of Customs to Release Administrative Measures for Tax Exemption and R…

December 29, 2008

General Administration of Customs to Release Administrative Measures for Tax Exemption and Reduction of Imported and Exported Goods

On December 29, 2008, the General Administration of Customs (the "GAC") issued the Administrative Measures for Tax Exemption and Reduction of Imported and Exported Goods (the "Measures"), effective February 1, 2009. The Measures mainly govern the exemption and reduction of duties and other taxes payable at the moment of import and collected by the customs authority on behalf of other tax authorities, as provided by the applicable laws. The Measures provide a complete guideline on how to file and obtain approval of customs-related tax exemptions and reductions. Furthermore, the Measures provide guidelines on how to handle and manage the goods for which customs-related tax exemptions and reductions are applied.

Copyright ©2009 by Kaye Scholer LLP. All Rights Reserved. This publication is intended as a general guide only. It does not contain a general legal analysis or constitute an opinion of Kaye Scholer LLP or any member of the firm on the legal issues described. It is recommended that readers not rely on this general guide but that professional advice be sought in connection with individual matters. References herein to "Kaye Scholer LLP & Affiliates," "Kaye Scholer," "Kaye Scholer LLP," "the firm" and terms of similar import refer to Kaye Scholer LLP and its affiliates operating in various jurisdictions.

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