Detailed explanation of Hainan Free w88 Port: The entire island has become a shopping paradise with zero tariffs, and the tax rate is comparable to that of Hong Kong and Singapore

（Source: The PaperNews 2020-06-02)

6month1On the 6611_6648th day, the full text of the "Hainan Free w88 Port Construction Master Plan" was released, with the entire island closed to customs, zero tariffs, and a capped individual tax15%and many other institutional designs unprecedented in the history of China’s opening up demonstrate the strength of this plan.

Professor Cui Fan, w88 casino of International Business and Economics, w88 casinosaid that the measures in the Hainan Free w88 Port overall plan are in line with industry expectations, and in some places even exceed expectations.

1.Duty-free purchase on the island

2025Before the year, Hainan Free w88 Port will implement positive list management of inbound goods consumed by residents on the island, allowing tax-free purchases on the island.

Cui Fan said that this policy is very meaningful,2025After the year, the positive list may be converted into a negative list, that is, from stipulating what can be purchased tax-free to stipulating what cannot be purchased tax-free.

Cui Fan said that the local consumption of imported duty-free goods is an important symbol of the free w88 port and an important feature that distinguishes the free w88 port from other free w88 zones.

“Currently, the construction of commercial living facilities is generally not allowed in my country’s special customs supervision zones. This policy breakthrough is quite rare, and Hainan may really become a consumer paradise.”Cui Fan said.

2.Goods produced in Hainan can also be imported into the mainland without tariffs

Generally speaking, island-wide customs clearance settings“Second line”Afterwards, when goods enter the mainland from Hainan Free w88 Port, relevant procedures must be completed in accordance with import regulations, and customs duties and import taxes will be levied in accordance with regulations.

However, one of the highlights of this overall plan is the provision: the value-added processing of the encouraged industrial enterprises that do not contain imported materials or contain imported materials in the Hainan Free w88 Port exceeds30%(inclusive) goods, by“Second line”Entry into the mainland is exempt from import duties, and import value-added tax and consumption tax are levied in accordance with regulations.

To put it simply, some goods produced by encouraged enterprises in the free w88 port can enter the mainland duty-free. This bonus policy has never appeared before.

Cui Fan said that this design can ensure that the Hainan Free w88 Port can still make full use of the mainland's ultra-large market advantages and achieve breakthrough development after the customs closure.(The Paper) Han Shengjiang)

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https://www.thepaper.cn/newsDetail_forward_7666304