Regulations Governing the Bonding Operations in Science Parks Article 13

A park enterprise, prior to its dissolution, or removal from the Park, or cancellation or annulment of its investment permit, shall initiate a closing inventory check in accordance with the following provisions:1. The park enterprise shall contact the Park Bureau, the Customs and the appropriate tax authority to schedule a date for an inventory check, or shall have the inventory check date fixed by the Customs at its own discretion, and may take an inventory check jointly with the Park Bureau.2. The Customs and the Park Bureau shall, depending on the actual situation, have the bonded goods sealed up for storage within the premises of the said park enterprise or any other place as designated by the Park Bureau.3. The park enterprise shall make and submit a tax return for the supplementary payment of the duties or taxes levied on the bonded goods inventoried. In case the quantity of any bonded goods inventoried is less than the booked balance-in-stock, supplementary payment of the duties, taxes and dues leviable on the under-balanced portion of such bonded goods shall be effected in accordance with the provisions set out in Subparagraph 1, Paragraph 1 of the preceding Article.4. No bonded goods of a park enterprise may be shipped to tax zone unless import duty levied thereon has been fully paid.When a park enterprise is declared bankrupt, the bonded goods owned by it shall be disposed of in accordance with the relevant provisions of the Bankruptcy Act; if any bonded goods is necessary for production or export, such bonded goods may be released for use with the approval granted by the Customs against an appropriate amount of security deposit provided by the park enterprise, provided that the account offsetting for the bonded goods so released shall be effected against relevant export certificates within one year from the day following the customs release thereof, and failure to complete the account offsetting procedure within the said time frame shall cause the duties/taxes/dues to be offset against the foregoing security deposit provided by the park enterprise.In the event that a park enterprise which is dissolved, or liquidated due to bankruptcy because of poor performance, or has moved out of the Park, or whose investment permit has been cancelled or annulled, is unable to conduct the closing inventory check for any reason whatsoever, supplementary import duties and taxes payable by it may be assessed directly by the Customs against the booked balance-in-stock of the bonded goods of said park enterprise.