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Policies & Statutes
Author:   Source:  Published:2016-03-11  Click:38971  Text Display:Large Medium Small Print


    Goods transported from overseas to NFTZ and vice versa can be exempted from import & export quota and license. Imported equipment, spare parts, building materials, reasonable amount of office facilities and production use fuel for the enterprises own use can be exempted from import duty & import related VAT. 
    Import duty for imported raw material can be bonded without limit to time, amount and varieties. 
Processing trade can be exempted from bank deposit account and deposit and products can be sold domestically without limit.
    NFTZ exercises the system of "inside the boundary, outside the Customs", and has integrated the operation between Port and NFTZ. Foreign goods can get into NFTZ freely (without going through Customs clearance, paying tariff, presenting imp.& exp. certificate, only with the Customs registration through EDI system. NFTZ Customs has direct customs clearance operations with 4 international airports.

Foreign Exchange

    Foreign exchange bank account is allowed; Foreign exchange can be kept for company’s cash flow;No foreign exchange verification and cancellation formalities for imp. & exp. trade. Foreign exchange under trade items can be transferred overseas as required from operation. Annual post-tax profit can be transferred freely out of China, among which RMB can be exchanged into foreign exchange and transferred outside. The amount of domestic sales volume can be used to buy foreign currency after approval.

Finance and Tax

    Income tax: Tax rate for foreign-funded manufacturing enterprises is 15%. As for enterprises operating for more than 10 years, income tax will be, since the first profitable year, exempted for the first 2 years, refunded 50% for the next 3 years 
    VAT: Export products can claim VAT refund, sales to enterprises in the zone is exempted from VAT.
    Financial Subsidy: manufacturing enterprises can get project subsidy according to the elements of projects investment amount, advanced technology and etc.
    Regulating tax for the direction of fixed assets investment is exempted. 
Refunded VAT for exporter:VAT can be refunded for export products that are made of Chinese materials or made by Chinese equipment; Most fees have been cancelled; the government will subsidize the cost of water & power capacities enlargement for projects to some proportion.

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