BEIJING: Since July 27, Qingdao Customs District has fully launched the Centralized Aggregate Taxation (CAT) reform as required by the General Administration of Customs. Under this mode, the Customs District cleared smoothly the first import consignment on that day with the entire release done in one minute only, while the payable tax of CNY 640,000 could be paid by August 5 by means of centralized processing.
The consignment of LCD boards worth CNY 2.81 million was declared by Qingdao Hisense International Marketing Co., Ltd. Zhang Qi, Vice Director General of its Business Department, said, “For manufacturing firms with frequent import activities, CAT mode is really convenient due to the reduction of cost and time of taxation.”
As one of the first pilot Customs Districts implementing CAT, Qingdao Customs District has imposed centralized aggregate taxation on 6 companies including Qingdao Hisense International Marketing and Komatsu Shantui Construction Machinery since October, 2013.
