As global attention increasingly focuses on resource recycling and environmental protection, gold-clad scrap has emerged as a significant component of the circular economy. This valuable material not only facilitates efficient precious metal recovery but also presents substantial business opportunities for enterprises. Understanding the associated trade and tax regulations has become crucial in this evolving market.
Product Overview
HS Code: 7112911090
Product Name: Gold-clad scrap
Description: Gold-clad scrap (excluding waste containing other precious metals) primarily originates from the dismantling and recycling of electronic products. For those seeking environmentally responsible methods of processing precious metals, understanding how these materials enter the market is essential.
Tax Structure
- Recommended unit of measurement: grams
- Export tax rate: 0%
- Export tax rebate: 0%
- VAT: 13%
- Most-favored-nation tariff rate: 0%
- General import tariff rate: 0%
- Consumption tax: None
With increasingly stringent health and regulatory measures, ensuring all transactions comply with customs regulations remains the responsibility of every exporter.
Declaration Requirements
Key elements for customs declaration include:
- Product name
- Brand type
- Export preferential treatment status
- Material state (scrap, powder, etc.)
- Source (e.g., recycled from circuit boards)
- Precious metal content percentage
- GTIN (Global Trade Item Number)
- CAS (Chemical Abstracts Service) number
- Other relevant specifications
These elements form the foundation for smooth customs clearance and trade operations, requiring thorough preparation by businesses.
Regulatory Conditions and Import Inspection
Gold-clad scrap faces strict customs controls. According to Chinese customs regulations, proper declaration procedures must be followed, along with corresponding inspection and quarantine processes. Importers must present compliant customs clearance documents to avoid unnecessary delays.
Free Trade Agreement Considerations
Currently, major trade agreements including RCEP have not established specific preferential tariff rates for gold-clad scrap, presenting importers and exporters with low-tax opportunities.
Product Classification
This commodity falls under Class 14 (Natural or cultured pearls, precious or semi-precious stones, precious metals, imitation jewelry, and coins), with more specific categorization as follows:
- 7112 - Waste and scrap of precious metal or metal clad with precious metal
- 711291 - Waste and scrap of gold or gold-clad (excluding sweepings containing other precious metals)
- 71129110 - Waste and scrap of gold or gold-clad
Market Outlook
With growing global emphasis on environmental protection and the push for recycled resources, the market potential for gold-clad scrap appears limitless. Comprehensive understanding of tax regulations and declaration requirements will help businesses seize opportunities in this emerging market, achieving both economic and environmental benefits.
In this rapidly evolving market environment, the ability to capitalize on opportunities and optimize resource utilization will define corporate competitiveness in the years ahead.