The first batch of value-added services for processing self-produced goods in Hainan has been implemented

On December 23rd, in the factory area of Hainan Baoting Yezefang Food Co., Ltd., workers wearing blue workwear loaded boxes of coconut oil products onto trucks. After loading, the cargo vehicles loaded with coconut oil headed towards the "second tier port" of Hainan Free Trade Port and were about to be transported from the island to the inland. This is the first batch of goods in Hainan to use self-produced goods for processing and value-added services after the island wide closure operation.
It is reported that the coconut oil that enjoys the policy of value-added processing and tariff exemption this time weighs 198 kilograms, with a value of 32000 yuan, and uses Hainan's self-produced goods as coconuts. Zhou Fuqiong from Hainan Baoting Yezefang Food Co., Ltd. said, "This is our first time handling this business, and the processes of filing and customs declaration were all carried out under the guidance of the customs. It went smoothly and also accumulated experience for our future business development
It is understood that after the closure of Hainan Island, the value of domestically produced goods recognized by Hainan can be deducted from the prices of domestically purchased materials used by processing value-added filing enterprises and included in the value-added part, making it easier to achieve a 30% value-added rate. This is also conducive to maintaining closer cooperation between Hainan's self-produced goods enterprises and processing value-added enterprises, and encouraging the development of local industries in Hainan.
In order to promote the implementation of policies in Baoting, Sanya Customs under Haikou Customs has formed a business backbone team to meet the needs of enterprises, communicate with Baoting government departments and enterprises, help enterprises understand policy points, clarify processing procedures, explain in detail the calculation method of processing value-added rate, and provide multiple rounds of guidance for enterprises to modify and improve their declaration materials. At the same time, conducting on-site research in enterprises to understand their processing procedures, video surveillance construction, and other situations, guiding enterprises in filing value-added processing enterprises and setting up accounting books, as well as customs declaration for enterprises outside the area, fully ensuring the smooth implementation of policies.
Feng Yunyun, Director of the Customs Tariff Department of Haikou Customs, stated that Haikou Customs will continue to focus on the high-quality development needs of Hainan's characteristic agriculture, deepen the precise service of "one enterprise, one policy", vigorously do a good job in policy promotion, interpretation and customs clearance guarantee services, promote more local processing enterprises to make full use of policies such as value-added processing and tariff exemption, and help promote the high-quality development of Hainan Free Trade Port.