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CHAPTER I GENERAL PROVISIONS CHAPTER II MANAGEMENT OF VERIFICATION CERTIFICATE OF EXPORT COLLECTION OF FOREIGN EXCHANGE CHAPTER III CUSTOMS DECLARATION FOR EXPORT AND RETURN OF STUB CHAPTER IV EXPORT COLLECTION OF EXCHANGE AND ITS VERIFICATION CHAPTER V MANAGEMENT OF SPECIAL FORM FOR EXPORT TAX REFUND CHAPTER VI LOSS AND REISSUE OF VERIFICATION DOCUMENTS CHAPTER VII PUNISHMENTS CHAPTER VIII SUPPLEMENTARY PROVISIONS CHAPTER I GENERAL PROVISIONS Article 1. This detailed rule is formulated to improve management over the verification of export collection of foreign exchange and prevent drain of exchange in compliance with Regulation on Management over the Verification of Export Collection of Foreign Exchange. Article 2. State Administration of Foreign Exchange and its local branches (hereinafter referred to as the SAFE and its branches) are the administrative agencies in charge of the verification of export collection of foreign exchange. Article 3. When exporting goods abroad, domestic exporting entities should undergo the verification of export collection of foreign exchange. Article 4. In verification of export collection of foreign exchange, the system of verificating personnel of export collection of exchange is adopted. It is the responsibility of verificating personnel of exporting entity in question to receive verification certificate of export collection of exchange and go through verification of export collection of exchange. Specific rule for the system of verificating personnel shall be drawn up separately by SAFE. Article 5. The verification of export collection of exchange adhere to the principle of administration by place i. e. exporting entities shall register, receive form and carry out verification at SAFE office in the place where the exporting entity is registered. CHAPTER II MANAGEMENT OF VERIFICATION CERTIFICATE OF EXPORT COLLECTION OF FOREIGN EXCHANGE Article 6. Verification certificate of export collection of foreign exchange (hereinafter refered to as "verification certificate") is the certificate with uniformed number and validity period. It is prepared and issued by the SAFE and its branches, by which exporting entities can go through export declaration to Customs, export collection of foreign exchange in designated foreign exchange bank, verification of export collection of foreign exchange at the SAFE and its branches, application for tax rebate in taxation bureau. (see appendix 2 for format of verification certificate) Article 7. Exporting entities shall apply for verification certificate at the SAFE and its branches, which can only used by exporting entities themselves and can't be lent, used falsely, transferred, bought or sold. Article 8. When applying for verification certificate for the first time, exporting entities shall bring following documents to the SAFE and its branches for registration: (1) Letter of Introduction and application letter of exporting entity; (2) Original text and copy of approval certificate issued by administration of foreign trade and economy to perform business of export & import; (3) Side-copy and copy of Business license of Commerce and Industry; (4) Copy of code certificate of legal person of enterprises; (5) Copy of registration certificate of customs; (6) Copy of export contract. After making sure the verity of all required materials, the SAFE and its branches shall make registration for exporting entities. Article 9. When applying for verification certificate, exporting entities shall on the spot fill in the column of "exporting entity" the name of the exporting entities or stamp with official seal of the entity. For official use, the verification certificate shall be stamped with official seal of entity. Article 10. With the help of computer system, the SAFE and its branches determine the amount of verification certificates that exporting entities can receive, issue verification certificates to exporting entities and mark validity period on them. Article 11. Verification certificate is valid within two months since it is issued. Exporting entities shall return the unused verification certificate to the SAFE for cancellation within one month as of the expiration date. Article 12. When no longer engaging in export & import business for bankruptcy, stoppage of production, merge and transfer of production, exporting entities shall return the unused verification certificates to the SAFE and its branches for cancellation within one month, and continue to finish the procedures of verification of finished export business according to relevant provisions. CHAPTER III CUSTOMS DECLARATION FOR EXPORT AND RETURN OF STUB Article 13. When filling verification certificate, exporting entities shall ensure accuracy, completeness and no alteration, and shall conform to the recorded content on the customs declaration form (hereinafter referred to as "declaration form") of exported goods. Article 14. In the event of forward collection of exchange whose collection date is expected to be over 180 days beyond the customs declaration date, exporting entities shall record at the SAFE and its branches with forward export contract and verification certificate before customs declaration. Days of the forward period shall be marked in the column of "means of collection" on the verification certificate. If record has not been made at the SAFE and its branches, they shall be regarded as spot export collection of exchange. Article 15. No matter dealer export or agent export, exporting entities shall use its own verification certificate to make customs declaration for export. Article 16. Customs shall accept and handle declaration for export based on verification certificate within validity period and stamped with official seal of the exporting entity. Only after no mistakes are found in the examination can customs permit entrance and clearance. After the goods have been shipped out of Chinese territory, customs shall write their opinion in the column of "Check and Release by Customs" and stamp with "proof seal". At the same time Customs shall issue to exporting entities computer-printed declaration certificate with anti-falsification tag and marked with total turnover of transaction and stamped with "proof seal" (Before the computer network is connected between customs and the SAFE, verification certificate must be pasted with anti-falsification tag; after the network has been connected, then it will be pasted with anti-falsification tag no longer). Then exporting entities can go through verification procedures at the SAFE and its branches with this verification certificate. In the event of goods temporarily exported, such as exhibition articles outside Chinese territory, free maintenance equipment, free sample, free materials for lab experiment, self-use mechanical equipment or tools, office and daily life articles of engineering personnel under the item of contracted engineering project outside Chinese territory, customs shall issue declaration form for verification of export collection of exchange in the course of check and release. Article 17. In the case that goods are returned for some reason, after having finished its import procedures, customs shall issue a customs import declaration form. The declaration form shall be marked clearly with the return of goods and stamped with "proof seal", then exporting entities shall bring the declaration form to go through cancellation procedures of verification certificate at the SAFE and its branches. Article 18. Exporting entities shall send the stub of verification certificate together with commercial invoices and declaration form to the SAFE and its branches within 60 days since the date of customs declaration. If the export business is over US $ 10,000 (including US $ 10,000) and conducted by means of sending documents by itself, corresponding approval documents shall be presented. When no mistakes are found in the course of examination of documents provided by exporting entities, the SAFE and its branches shall take back the verification certificate and make registration. CHAPTER IV EXPORT COLLECTION OF EXCHANGE AND ITS VERIFICATION Article 19. Document of surrender of exchange only for verification of export collection of exchange and notice of collection for special use in verification of export collection of exchange (the above-mentioned two kinds of certificate are hereinafter referred to as "special copy for verification of export collection of exchange") are important certificate for exporting entities to finish verification of export collection of exchange. In case of exchange earnings of exporting entities, after having determining it is the export proceeds directly from offshore earnings, bank shall go through the procedures of surrender of exchange or the entry of the earning into current account of exchange of exporting entities. Bank shall also provide the special form for verification of export collection of exchange stamped with "Special Combined Seal of Verification of Export Collection of Exchange". Article 20. the special form for verification of export collection of exchange shall be filled together with reserve copy of bank and account-entry form of beneficiary and shall have following elements: (1) the name of the bank involved; (2) date of surrender of exchange or entering into account; (3) name and account number of collecting entities; (4) amount and kind of currency of collection of exchange; (5) detail, its amount and kind of currency of various deducted expenses; (6) net amount of FX surrender or amount and kind of currency of money entered into account; (7) code number of verification certificate; (8) mark of "Special copy for verification of export collection of exchange"; and (9) official business seal of bank, "Special Combined Seal of Verification of Export Collection of Exchange". In case of many exports with only one collection of exchange, bank shall ask exporting entities to provide code numbers of all verification certificates corresponding to the collection. When providing Special copy for verification of export collection of exchange, bank shall fill the code numbers of all verification certificates. The copy for bank shall be preserved for 5 years for future reference. Bank shall send format of Special copy for verification of export collection of exchange and the model of Special Combined Seal of Verification of Export Collection of Exchange to the SAFE and its branches for record. Article 21. Special copy for verification of export collection of exchange provided by bank shall be stamped with "Special Combined Seal of Verification of Export Collection of Exchange" which can only be stamped on Special copy for verification of export collection of exchange and can't be stamped on other copies. Article 22. In case of exchange earnings of exporting entities, after having determining it is the export proceeds directly from offshore earnings, bank shall differentiate several circumstances and then according to relevant provisions go through procedures of surrender of exchange or the entry of the earning into FX current account of exporting entities. Bank shall also provide special copy for verification of export collection of exchange stamped with "Special Combined Seal of Verification of Export Collection of Exchange": (1) In case of exchange earnings of exporting entities more than US $ 50,000 (including US $ 50,000) and exchange earnings more than US $ 50,000 settled in means of documentary L/C, warranty letter and document collection, bank shall go through the procedures of surrender of exchange or the entry of the earning into account according to the code number of verification certificate provided by exporting entities and provide exporting entities with Special Combined Seal of Verification of Export Collection of Exchange; (2) In case of advance on sales of exporting entities more than US $ 50,000 under the item of export, bank shall go through procedures of surrender of exchange or the entry of the earning into account according to original verification certificate stamped with "seal of advance payment" by the SAFE and its branches provided by exporting entities. In case of advance on sales by entrusting party under the item of export, entrusting party shall go through procedures of surrender of exchange or the entry of the earning into account according to original verification certificate stamped with "seal of advances on sales" by the SAFE and its branches provided by agent and original text of agency agreement. Bank shall provide exporting entities with Special copy for verification of export collection of exchange; (3) In case of exchange earning is more than US $ 50,000 under the item of means of remittance and the exporting entity belongs to trusted enterprises in aspect of payment of exchange", bank can first go through the procedures of surrender of exchange or the entry into account. But only after the exporting entity has provided corresponding evidential documents of collection and remittance and original verification certificate of the exporting entity stamped with "proof seal" of customs and are checked in transaction-by-transaction way can the bank provide Special copy for verification of export collection of exchange. In case of collection of exchange by entrusting party under the item of agent export and the exporting entity belongs to trusted enterprises in aspect of FX surrender", bank can go through the procedures of FX surrender or the entry of the earning into account according to above-mentioned method together with original text of agent agreement But only after the exporting entity provide corresponding evidential documents of collection and remittance and original verification certificate of the exporting entity stamped with "proof seal" of customs and are checked in transaction-by-transaction way can the bank provide Special copy for verification of export collection of exchange. In case of exchange earnings more than US $ 50,000 under the item of means of remittance and the exporting entity doesn't belong to "trusted enterprises in aspect of FX surrender", bank shall go through the procedures of FX surrender or the entry into account according to original verification certificate of the exporting entity stamped with "proof seal" of customs. In case of collection of exchange by entrusting party under the item of agent export and the exporting entity doesn't belong to trusted enterprises in aspect of FX surrender", bank shall go through procedures of FX surrender or the entry into account according to original verification certificate of the exporting entity stamped with "proof seal" of customs. Bank shall provide exporting entities with special copy for verification of export collection of exchange; (4) In case of export collection of exchange settled in cash of foreign currency, bank shall go through the procedures of FX surrender according to Provisional Rule on Control over Collection and Payment in Cash of Foreign Currency by Domestic Entities (Huiguanzi (96) No. 211, at the same time Bank shall provide exporting entities with special document of Verification of Export Collection of Exchange; (5) In case of money of claim settlement derived from export credit insurance and other export insurance of goods, bank shall go through the procedures of FX surrender or the entry into settlement according to original verification form provided by exporting entities. Bank shall provide exporting entities with special copy for verification of export collection of exchange. Article 23. In case of packing loan or export documentary bill, while going through the procedures of FX surrender or the entry into settlement bank shall not provide special copy for verification of export collection of exchange. Only after having collecting the export loan can the bank go through relevant procedures according to requirements in the Article 22 of this detailed rule and provide special copy for verification of export collection of exchange. Article 24. When bank provides exporting entities with special copy for verification of export collection of exchange according to requirements in Article 22 of this detailed rule, the number of verification certificate marked shall be the same with those provided by exporting entities. When original verification certificates provided by exporting entities are needed for the providing of special copy for verification of export collection of exchange, the date, amount and kind of currency of payment of exchange and entry into account shall be written in the column of "situation of FX surrender and entry into account by designated foreign exchange bank" on the original verification certificate provided by exporting entities. It shall also be marked with word of "surrender and entry into account" or "payment and entry into account of advance exchange" and shall be stamped with official business seal of bank. Article 25. In case of surrender and entry into account of following exchange earnings, bank shall not issue special copy for verification of export collection of exchange: (1) don't belong to exchange earnings derived from export or can't be identified as exchange earnings for the time being; (2) not directly derived from outside Chinese territory; (3) enter into various exchange account other than exchange settlement account; (4) have been entered into various exchange account (including exchange settlement account) and then surrendered or remitted from the account; (5) transferred from other domestic entities or other exchange account of the same entity; (6) other circumstances not conforming to the requirements of Article 22 of this detailed rule. Article 26. In case of foreign exchange having been provided with special copy for verification of export collection of exchange after surrender of exchange or entry into account, for various reasons the account shall be adjusted or used to reverse an error entry of account, bank shall retrieve the issued special copy for verification of export collection of exchange for destroy. Article 27. In case of agent collecting exchange under the item of agent export: if agent has exchange settlement account and need to transfer the exchange belonging to entrusting party into the account of entrusting party, then all the collected exchange shall be entered into agent's exchange settlement account. Bank provides agent with special notice of collection for verification of export collection of exchange, then agent shall transfer the exchange according to relevant provisions. If agent doesn't have exchange settlement account, then they should surrender exchange. Bank shall provide agent with special payment document of verification of export collection of exchange and agent then shall remit Renminbi to the account of entrusting party. Article 28. Exporting entities shall timely collect exchange after having made customs declaration for export. They should collect exchange within 180 days as of the date of customs declaration for spot export. For forward export, they shall collect exchange according to the stipulated date in the export contract registered at the SAFE and its branches. Exporting entities shall go to the SAFE and its branches to go through verification of export collection of exchange within 30 days since the receiving date of exchange by taking verification certificate and special copy for verification of export collection of exchange issued by bank. In case of export conducted in other special means of trade, exporting entities shall offer evidential documents according to following provisions. All the materials provided shall be original without any alteration: (1) For export in form of exhibition sale and products abroad, customs declaration form for reentry of exhibition articles shall be provided; (2) In the event of export in form of processing and assemblage with imported materials, customs registration form, contract of exporting entities and approval documents from State Economic and Trade Commission shall be presented and verified as conversion charge; (3) In case of export in form of recovery in kind, approval documents from administration of economic and trade, relevant contract and customs declaration form of import shall be provided. If the amount of recovery exceed the figure stipulated in the contract, it should be treated and verified as ordinary trade; (4) In the event of export in form of barter trade, barter trade contract and customs declaration form of import of barter-in goods shall be provided; (5) In the event of export in form of investment, approval documents issued by the foriegn-trade-related departments and foreign exchange bureau shall be provided; (6) In the event of export in form of processing with imported materials, full amount of exchange shall be generally collected. Foreign-funded enterprises, which can't collect full amount of exchange, shall be approved in advance by the SAFE and its branches. In case of payment compensated by receipts, contract, customs declaration form of import and customs registration form shall be provided; (7) In the event of export of mechanical equipment and tools, office and daily life articles of engineering personnel needed in contracted engineering projects abroad, written explanation and contract of labor service shall be provided. Article 29. The verification procedures under the item of agent export are: (1) agent party shall apply for and receive verification certificate and go through export customs declaration and verification of export collection of exchange; (2) If entrusting party is to collect exchange and entrusting party and agent have different local branches of the SAFE, then after receiving exchange, entrusting party shall bring relevant certificate such as original text of agency agreement and special copy for verification of export collection of exchange to local branches of the SAFE to confirm the special copy for verification of export collection of exchange. After determining the certificate provided by entrusting party are proper and sound, the SAFE and its branches shall mark on the back of special copy for verification of export collection of exchange the name of local branches of the SAFE of agent party, the name of institution of the agent party, the amount, kind of currency and date of collection of exchange, then shall stamped with a seal (seal of supervision over collection of exchange) and at the same time enter into standing book. Entrusting party shall pass the special copy for verification of export collection of exchange confirmed by the SAFE and its branches over to agent party which shall in turn go through verification of export collection of exchange in local the SAFE and its branches. Agent party's local the SAFE and its branches shall carry out the verification of export collection of exchange based on the special copy for verification of export collection of exchange confirmed by entrusting party's local the SAFE and its branches and other required documents. If agent party and entrusting party share same local the SAFE and its branches, agent party shall take original text of agency agreement, special copy for verification of export collection of exchange of entrusting party and other required documents needed for verification to carry out verification of export collection of exchange; (3) If agent party is to collect exchange, then agent party can take special copy for verification of export collection of exchange and other documents required for verification directly to local bureau of exchange to finish verification procedures. Article 30. Exporting entities shall collect full amount of exchange by the total value of transaction on the declaration form. If the discrepancy is over US $ 500, then they shall provide valid documents to the SAFE and its branches and make explanation. Article 31. If under the item of export the return and compensation occur, the SAFE and its branches shall examine the bona fide nature of the exchange returned and compensated to exporting entities. After offsetting from the performance of verification of export collection of exchange, they shall issue "certificate of offset verification of export collection of exchange". Bank shall sell FX and make payments upon this certificate. If verification procedures have been carried out, exporting entities shall also provide certificate of no tax refunded or certificate of paying an over due tax issued by tax bureau when applying for "certificate of offset verification of export collection of exchange". CHAPTER V MANAGEMENT OF SPECIAL FORM FOR EXPORT TAX REFUND Article 32. After having carried out verification for exporting entities, the SAFE and its branches shall mark on the special form of export tax refund net amount and kind of currency and date of collection of exchange and stamp it with "seal of cancellation" which shall then be returned back to exporting entities. Article 33. The SAFE and its branches shall provided electrical data verified in last month within first 5 workdays of every month to local taxation bureau according to requirements of Meeting Summary of Strengthening Management of Export Tax Refund through Electrical Data on Verification of Export Collection of Exchange ((93) Huiguanzi No. 57 of State Administration of Foreign Exchange and General Administration of Taxation. CHAPTER VI LOSS AND REISSUE OF VERIFICATION DOCUMENTS Article 34. If exporting entities lost verification certificate, they shall make a written explanation to the SAFE and its branches and report of the loss within 15 days. After examination and check by the SAFE and its branches, the SAFE and its branches will publish invalidity announcement on newspaper (corresponding fees shall be born by entities losing the verification certificate). And it shall be treated as follows: (1) In case of blank verification certificate, shall be cancelled; (2) In case of verification certificate which has been used in customs declaration of export but hasn't gone through verification of export collection of exchange, verification of export collection of exchange shall be carried out according to provisions of chapter 4 of this rule and issue "certificate of reissued tax rebate form of verification certificate of export collection of exchange"; (3) If verification certificate has been used to carry out verification of export collection of exchange, generally they can't be reissued. In special circumstances export tax refund form is demanded to be reissued, exporting entities shall file application to the SAFE and its branches by certificate of no export tax refunded issued by taxation bureau. Only after receiving approval from the SAFE and its branches can certificate of reissued tax rebate form of verification certificate of export collection of exchange" be issued. Article 35. If exporting entities lost declaration form, they shall file application for reissue by certificate of not-yet-verified issued by the SAFE and its branches. Article 36. If exporting entities lost special form for verification of export collection of exchange, they shall first make application for reissue to the SAFE and its branches. After the SAFE and its branches have examined and agreed, they can issue approval document for reissue of special copy for verification of export collection of exchange to exporting entities in 3 months as of receipt of the application. Bank shall reissue the special copy for verification of export collection of exchange for exporting entities upon the presence of the approval document in question and mark the quota of "reissue" on the reissued special copy for verification of export collection of exchange. Without approval from the SAFE and its branches, bank can't presumptuously reissue special copy for verification of export collection of exchange for exporting entities without authorization. CHAPTER VII PUNISHMENTS Article 37. If bank commit following behaviors, the SAFE and its branches shall issue warning, circulate public reprimand and confiscate illegal gains and impose fine ranging from 50,000 to 300,000: (1) provide exporting entities with special copy for verification of export collection of exchange not in compliance with relevant provisions; (2) in case of the elements not fully completed and satisfied, provide exporting entities with special copy for verification of export collection of exchange; (3) provide same special copy for verification of export collection of exchange more than once; (4) do not carry out settlement according to relevant provisions and result in that exporting entities do not collect exchange beyond the due day; (5) don't observe provisions of Article 24 of this rule to write on the original verification certificate the date and amount of surrender of exchange or entry into account and mark quota of "surrender of exchange or entry into account of remittance" or "payment of exchange or entry into account of advance in sales"; (6) Other violations of provisions of this rule. Article 38. If bank commit following behaviors, the SAFE and its branches shall issue warning, circulate public reprimand, confiscate illegal gains and impose fine ranging from 50,000 to 300,000: (1) lend, falsely use, transfer, sell or buy verification certificate; (2) alter and forge such verification documents as verification form, declaration form, special copy for verification of export collection of exchange; (3) false report of the loss of verification; (4) repeated use of special copy for verification of export collection of exchange issued by bank; (5) cheat of verification using other exchange earnings (for instance non-trade exchange earnings and exchange earnings under capital account). Article 39. If exporting entities commit following behaviors, the SAFE and its branches shall issue warning, circulate republic reprimand, confiscate illegal gains and impose fine ranging from 10,000 to 30,000: (1) do not turn in the stub of verification certificate to the SAFE within 4 months as of receipt of the form; (2) under the item of spot export, do not collect exchange in 180 days since the date of customs declaration or do not carry out verification within 30 days since collection of exchange without the approval from the SAFE. Under the item of forward export, do not carry out verification within 30 days as of the expected date of collection at the SAFE; (3) the discrepancy of verification of export collection of exchange exceed over 10% of total value of transaction without any proper and sound reasons; (4) in case of loss of verification certificate, do not report the loss to the SAFE within 15 days as of the loss date; (5) unused verification certificates haven't been returned to the SAFE within one month as of the expiration date; (6) loss verification many times and constitute a serious offense; (7) having stopped export business because of bankruptcy, stoppage, merge and transfer, haven't return all the unused verification certificates to the SAFE on time for cancellation and destroy; (8) Other violations of provisions in this rule. CHAPTER VIII SUPPLEMENTARY PROVISIONS Article 40. The interpretation of this detailed rule for implementation rests with the State Administration of Foreign Exchange. Article 41. This Detailed Rule for Implementation shall come into effect as of Aug. 1 1998 and the Detailed Rule for Implementation of Regulation on Management over Verification of Export Collection of Exchange enacted in Dec. 21 1990 and relevant documents (see Appendix V) shall be repealed at the same time. Appendix: omitted. |
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