Applications for establishing free ports acceptable next year at the latest

The Executive Yuan approved a draft “Statute for the Establishment and Management of Free Ports” on Sep. 25, 2002. In the future, establishment of free ports shall be limited to the international airports and the controlled areas of international harbors or the nearby closed areas. Goods imported from abroad to the free ports for operation will be exempted from customs duties, commodity tax, business tax, tobacco and wine tax, tobacco health welfare tax, promotion trade expense and harbor service fee. The Executive Yuan had listed the aforementioned draft as a priority draft for the present session of the Legislative Yuan, and hoped that the legislation of such draft would be completed by the end of this year so that applications would become acceptable in early 2003 the latest.

Source: Commercial Times 09/26/2002

  Liberty Times 09/26/2002