Q:
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What is the general idea of this "Notice"?
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A:
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The "Notice" focuses on solving the problem of inconvenient settlement in new trade "small value, high frequency, electronic" transactions.
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Q:
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What policy conveniences will the "Notice" bring to market participants?
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A:
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The "Notice" optimizes the foreign exchange settlement mode of the new trade format, expands the scope of account revenue and expenditure, promotes the online processing of more businesses, and reduces cross-border settlement costs while increasing the efficiency of cross-border settlement. These include: 1) relaxing foreign exchange management; 2) improving foreign exchange services. First, broaden the settlement channels of new trade formats and support qualified banks to handle foreign exchange business based on transaction electronic information. The second is to facilitate enterprises to handle foreign exchange business remotely. Enterprises can be directly connected to the foreign exchange bureau system to realize more online foreign exchange business such as trade business reports and balance of payments declaration. The third is to optimize the declaration of foreign receipts and payments for small transactions. Support enterprises to collect and declare small amounts of foreign-related receipts and expenditures in their own name to meet their export tax rebate and financing declaration needs.
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Q:
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This favorable policy mainly includes?
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A:
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Balance settlement of export payment
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Taxes and fees related to cross-border advances
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Eligible market purchases do not account for the personal 50,000 USD quota
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Support foreign trade comprehensive service enterprises to charge for export collection
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Q:
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What is the balance settlement export payment?
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A:
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Domestic international delivery companies, logistics companies, and cross-border e-commerce platform companies can advance overseas warehousing, logistics, taxation and other expenses related to cross-border e-commerce for customers. In principle, the advance period should not exceed 12 months. If the non-affiliated enterprise advances or the period of advances exceeds 12 months, it should be reported to the local foreign exchange bureau in accordance with regulations.
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Q:
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What are the specific circumstances that do not account for the individual ’s 50,000 dollar limit?
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A:
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1.
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Domestic individuals engaged in cross-border e-commerce can handle cross-border e-commerce foreign exchange settlement through their individual foreign exchange accounts. Domestic individuals who handle foreign exchange settlement and sale under cross-border e-commerce and provide proof of transaction amount or electronic transaction information do not occupy the individual ’s annual facilitation amount.
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2.
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Domestic and overseas individuals engaged in market procurement trade can handle foreign exchange settlement of market procurement trade that meets the requirements through their individual foreign exchange accounts. Individuals who handle foreign exchange settlement under market purchase trade items and provide proof of transaction amount or transaction electronic information shall not occupy the individual ’s annual facilitation amount.
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FAQ
