Convenient flag country

Edit the tax exemption policy for the special case of investment and book convenience ships.

Edit this section to facilitate the characteristics of the flag ship

Edit this section to facilitate the characteristics of the flag country

The registration of Chinese merchant ships abroad is primarily due to: 1. Economic considerations, to escape strict financial regulations, such as various fees, annual charges, taxes, and foreign exchange controls. 2. Also for economic reasons, to avoid numerous taxes associated with importing ships that need to be registered in China, such as import duties, value-added tax on imports, and stamp duties. 3. To evade stringent ship inspection standards, as China's ship inspection criteria are quite formal and demanding. 4. The minimum crew manning requirements are lower, and there are no restrictions on the nationality of employed crew members. 5. Political and shipping policy considerations, to circumvent certain navigation bans and embargoes imposed by the home country at times. 6. Open registries generally have lax management of foreign vessels.

Convenient flag states recognized by the International Transport Workers' Federation (ITF): 1. Antigua and Barbuda 2. The Bahamas 3. Bermuda 4. Cayman Islands 5. Cyprus 6. Gibraltar 7. Honduras 8. Lebanon 9. Liberia 10. Malta 11. Marshall Islands 12. Dutch Antilles 13. Panama 14. Saint Vincent 15. Sri Lanka 16. Vanuatu

Edit this section for the convenience of the flag country

First, foreign shipowners are permitted to register their vessels in the country and fly the national flag. Second, the flag state offers tax exemptions or low tax policies on foreign shipping income. Third, there is the freedom to register and deregister vessels, as well as to change flags. Fourth, the registration fees or tonnage taxes for vessels are relatively low. Fifth, the government of the flag state cannot arbitrarily requisition foreign vessels registered in its territory. Sixth, foreign crew members may be employed. Seventh, the flag state does not have legislative or policy measures to control foreign shipping management; most flag states also implement minimal management, but vessels of a certain grade can enjoy the conveniences provided by the flag state.

Edit this section to facilitate the role of the flag

Notice on the List of the First Batch of Chinese-flagged Vessels Enjoying Import Tax Incentives During the "12th Five-Year Plan" Period, Document No. 78 of the Ministry of Finance and the General Administration of Customs to all provincial, autonomous region, and municipality finance departments, as well as the National Taxation Bureau, the Guangdong Branch of the General Administration of Customs, and all directly affiliated customs: According to the provisions of the "Notice on the Import Tax Policy for Chinese-flagged Vessels Returning to Register in the Country During the '12th Five-Year Plan' Period" (Document No. 63 of the Ministry of Finance, General Administration of Customs, and National Taxation Bureau), it has been approved that during the "12th Five-Year Plan" period, a total of 1 Chinese-flagged vessel is eligible for exemption from customs duties and import value-added tax. The specific list of vessels is attached. The vessels enjoying the incentives should handle the vessel registration procedures in accordance with the "Regulations on the Registration of Vessels of the People's Republic of China" (State Council Order No. 155) and relevant regulations

The "Opinions of the State Council on Promoting the Accelerated Development of Modern Service Industries and Advanced Manufacturing in Shanghai to Build an International Financial Center and an International Shipping Center" (hereinafter referred to as the "Opinions") indicates that the deadline for the implementation of the tax exemption policy for Chinese-funded "convenience flag" vessels and special cases has been extended from June 30, 2009, to June 30, 2011. In fact, this extension of the tax exemption policy for "convenience flag" vessels is a partial pilot for the "second registry". The deadline for the implementation of the tax exemption policy for Chinese-funded "convenience flag" vessels and special cases has been extended from June 30, 2009, to June 30, 2011. In fact, this extension of the tax exemption policy for "convenience flag" vessels is a partial pilot for the "second registry". China has a wide variety of taxes, and vessels purchased from abroad or produced overseas must pay various taxes such as import duties, value-added tax at the import stage, and stamp duty when registering domestically. Therefore, there was hope to attract vessels to register in Shanghai through the "second registry" policy. The currently implemented tax exemption policy for Chinese-funded "convenience flag" vessels is functioning well and has played a positive role in expanding the national ocean-going fleet. Therefore, there was hope to attract vessels to register in Shanghai through the "second registry" policy. The currently implemented tax exemption policy for Chinese-funded "convenience flag" vessels is functioning well and has played a positive role in expanding the national ocean-going fleet. At the same time, the special case tax exemption policy will not have a negative impact on China's shipbuilding industry.

First, for shipowners, the costs of ship registration are significantly lower than those incurred when registering in their home country. Second, the low costs enhance the competitiveness of the vessels. Third, most shipowners come from developed countries. Fourth, the types of vessels include scheduled ships, non-scheduled ships, and oil tankers

Edit the list of vessels for the "Convenient Flag".