Is a bonded area the same as a bonded warehouse?

Many people do not know the difference of bonded areas and bonded warehouses. In this article we will briefly tell you the difference between the two.

The two concepts are different

Bonded area: The bonded area is approved by the State Council and supervised by the customs. Preferential tax policies such as tariff reduction and exemption shall be implemented for import and export goods. Economic Zone.

Bonded warehouse: Bonded warehouse is an application form of the bonded system in the bonded area. It refers to the suspension of the collection of customs duties and other domestic taxes and fees after the entry of certain imported goods until the Chinese Customs approves the domestic sale or re-export. , a customs system supervised by customs.

What is the difference between a bonded area and a bonded warehouse?

China’s bonded areas do not need to pay customs duties, but you need to pay customs duties when you leave the bonded area and enter the non-bonded area.

It can be seen that the processing business in the bonded area has more obvious advantages and characteristics than the non-bonded area: processing in the bonded area does not require import and export licenses, production and operation licenses; all imported materials are completely exempt from tax. For imported materials and parts for processing trade, except for commodities subject to export quotas implemented by the state, the bonded area does not implement the bank deposit ledger system.

A bonded warehouse is only a function of storing goods. For example, a Chinese trading company imports goods into China, but buyers who cannot find the goods can pay a supervision fee and put them in a bonded warehouse. Once a buyer is found, they can leave the warehouse. Imported goods belonging to general trade shall not be stored in bonded warehouses. , and processing in bonded warehouses is not allowed, but the packaging or gamma code of customs-supervised goods can be changed.

All in all, the bonded warehouse in the bonded area does not pay the storage fee, and the bonded warehouse outside the bonded area pays the storage fee.