[Taxation] Tax Rebate Rules Eased for Bonded Factory Waste Materials

To meet the practical operating and management needs in customs, the Ministry of Finance (MOF) has revised the Regulation Governing Customs Bonded Factories so that, in the future, when bonded factories are unable to withdraw all of the scraps and waste materials which have been declared to Customs and on which tax has been paid from the factory by the stipulated deadline, the factory may, within one week, amend the amount and carry out tax rebate matters with Customs. The MOF's Department of Customs Administration notes that under the original rules, bonded factories that manufacture bonded goods could estimate the amount of scraps and waste materials that they expected to produce within a three-month period, apply to Customs for prior declaration and payment of tax due, and then remove the materials from the factory in separate batches. If the factories were unable to remove all of the materials within the three-month deadline, they could apply for a one-month extension.