Bonded supervision place is one of the important forms of customs bonded system. There are several common modes of bonded warehouse, export supervision warehouse, bonded factory and bonded logistics center. With so many similar concepts, can you tell them apart? Today, TJ chinafreight will introduce these concepts and related tax refund policies to you.
Bonded warehouse
A bonded warehouse is a place used to store and process goods imported into new markets. Goods stored in bonded warehouses are not subject to customs duties (a type of tax). Any applicable customs duties shall be paid when the goods are transported to the next destination. Bonded warehouses can be owned by governments or private companies, helping to improve inventory and cash flow efficiency. Using a bonded warehouse means that goods can be moved closer to their final destination, and payment of duties can be deferred until the product is moved. The system provides significant benefits for commercial transactions across different jurisdictions. For organizations importing and exporting goods, bonded warehouses can be used to eliminate the need to pay customs duties, further increasing efficiency. The purpose and structure of a bonded warehouse varies from country to country.
Bonded Factory
A bonded factory is a factory or enterprise that has been approved by the customs and specialized in processing and manufacturing re-exported products with bonded imported materials. The materials and parts imported by the bonded factories for the production of export products are customs bonded goods, and the customs will fully bond them. After the processed and manufactured finished products are exported, the imported materials and parts will be exempted from import duties, import value-added tax and consumption tax according to the actual consumption.
Export supervision warehouse
The export supervision warehouse refers to the special customs supervision warehouse that stores goods that have gone through customs export formalities, carries out bonded logistics and distribution, and provides marketable value-added services. Including the export distribution warehouse (storing the actual exit of the export) and the internal transfer warehouse (storing the export and internal transfer).
Bonded warehouse refers to a warehouse dedicated to storing bonded goods and other goods that have not gone through customs formalities. Including public bonded warehouses, self-use bonded warehouses and special bonded warehouses (such as liquid dangerous goods bonded warehouses, material bonded warehouses, agency sales bonded warehouses, etc.).
Inbound and outbound cargo management between the logistics center and overseas. For goods entering and leaving between the logistics center and overseas, the customs in charge of the logistics center shall implement record entry and exit management. Goods entering the logistics center from abroad upon approval by the customs shall be bonded, office supplies, transportation, transportation tools, consumer goods, etc. for self-use imported from abroad, as well as imported machinery, loading and unloading equipment, management Equipment, etc., go through relevant procedures in accordance with the relevant regulations and tax policies of imported goods. When the goods stored in the bonded logistics center leave the logistics center and are finally exported to overseas, the customs shall implement the record management.
Management of incoming and outgoing goods between the logistics center and areas outside the domestic bonded supervision area. The goods entering the logistics center are deemed to be imported, and the import declaration procedures shall be handled according to the actual trade mode and actual status of the goods; the goods entering the logistics center from the territory are deemed to be exported, and the domestic consignor shall go through the export declaration procedures, and can enjoy the refund of export goods (exemption). tax policy.
