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MOF: CN to Expand Range of Duty-Free Goods on Hainan Island
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To steadily advance the construction of Hainan Free Trade Port and further meet the diversified shopping needs of consumers, China's Ministry of Finance (MOF), General Administration of Customs (GAC) and State Administration of Taxation (SAT) jointly issued an announcement to adjust the duty-free shopping policy for Hainan Island travelers, with effect from 1 November, according to the MOF. Of which, the range of duty-free goods on the island will be expanded, adding pet supplies, portable musical instruments, mini drones, small appliances and other items. The optimized number of duty-free goods categories will increase from 45 to 47. Domestic goods such as clothing, accessories, shoes, hats, ceramic products, scarves, coffee and tea will also be allowed to be sold in offshore duty-free shops, with VAT and consumption tax refunded (exempted). AASTOCKS Financial News Website: www.aastocks.com |
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