GAC Clarifies Issues concerning Supervision of Processing Trade Goods

31/03/2014

On March 24, the General Administration of Customs (“GAC”) issued the Announcement on Issues concerning the Implementation of the Measures of the Customs of the People’s Republic of China for the Supervision and Administration of Processing Trade Goods (the “Announcement”) with immediate effect.

The Announcement further clarifies issues in relation to the circumstances under which formalities for processing trade goods being pledged shall not be handled, the separate administration and storage of processing trade goods, and the outward processing of processing trade goods.

According to the Announcement, an enterprise shall, within three working days from the date when its processing trade goods are contracted for outward processing for the first time, submit the basic information regarding the outward processing for filing with the competent customs; and the enterprise shall, within ten days from the date when its processing trade goods are contracted for outward processing, submit the information regarding actual receipt and delivery of its processing trade goods for declaration with the competent customs which may handle the formalities for receipt and delivery of the goods that are under the same manual (account book) or are processed by the same contractor on a consolidated basis.

(Source: http://www.customs.gov.cn/)


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