Where goods imported from abroad are re-processed and exported in order to avoid going through the formalities of export tax refund in the future, they will not be recorded at the time of import and will be exempted from customs duties first, which is called bonded.

Non-bonding:

Goods that have entered the bonded area from abroad and have gone through tax declaration and import procedures. Or goods that have entered the bonded area from outside the area and have not yet gone through export customs declaration procedures.

Extended data

Bonded related policies

1, tax exemption, bonded and tax policies

Foreign-invested productive enterprises with an operating period of more than 10 years shall enjoy the preferential treatment of "two exemptions and three reductions" from the profit-making year, and pay enterprise income tax at the rate of 15%. After the expiration of the relief period, the income tax will be reduced by 10% for enterprises whose export output value reached 70% in that year.

2. Immunities and other remedies

Free of quotas and import and export licenses (except passive quotas) for the import and export of goods between overseas and the region; Processing trade does not implement the bank deposit account system, and equipment tax exemption does not require the approval of the foreign trade department; Bonded or non-bonded goods have no storage period; Is there any conditional restriction on the registration of foreign-invested trading enterprises?

3. Foreign exchange policy

Enterprises can open all foreign exchange accounts, settle foreign exchange at will, and keep foreign exchange without limit, without going through the formalities of foreign exchange verification. Enterprises in the area can settle accounts in foreign currency or RMB.

References:

Bonded _ Baidu encyclopedia