After consultation with the Ministry of Commerce, the General Administration of Customs, and the State Administration of Taxation, the Ministry of Finance announced the relevant matters involved in the pilot work.
The offshore duty-free policy refers to the preferential tax policy, the Pilot Implementation Plan of the Offshore Duty-Free Shopping Policy on Hainan Island, developed for tourists leaving the island by plane.
For the purpose of regulating the offshore duty-free shopping supervision of Customs in Hainan province and promoting the development of Hainan provincial tourism industry, these provisional measures have been formulated under the authorization of the State Council.
Offshore visitors (including visitors residing on the island) are tentatively allowed to spend less than RMB 5,000 yuan ($770) during each duty-free shopping per person.
During the trial period, duty-free products cover the following categories: jewelry, crafts, watches, perfume, cosmetics, glasses (including sunglasses), silk towels...
Political advisers in South China's Hainan province urged authorities to levy taxes on vacant homes in popular travel destinations to discourage speculation and cool the island's overheated property market.
Hainan opened a second duty-free store on Wednesday, following the success of the first, which since April has boosted domestic tourism to the province in South China.
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