Seventy percent of imported daily consumer goods tariff reduction, including food and clothing and other eight categories

Release time:

2018-07-04

From January 1, China will reduce the tariff rate of automobile and parts, and reduce the tariff rate of 1449 items of daily consumer goods. The tax reduction on consumer goods covers eight categories of consumer goods, including food, clothing, shoes and hats, furniture, daily necessities, sports and entertainment, household electronics, daily chemical products, medicine and health, with a total of 1449 tax items, accounting for 70% of the total number of consumer goods tax items in the Import and Export tariff, with an average decrease of 55.9 per cent.

Seventy percent of imported daily consumer goods tariff reduction, including food and clothing and other eight categories

Since July 1, China has reduced the tariff rate of automobile and parts, and reduced the tariff rate of 1449 tax items of daily consumer goods. The tax reduction on consumer goods covers eight categories of consumer goods, including food, clothing, shoes and hats, furniture, daily necessities, sports and entertainment, household electronics, daily chemical products, medicine and health, with a total of 1449 tax items, accounting for 70% of the total number of consumer goods tax items in the Import and Export tariff, with an average decrease of 55.9 per cent.

Most of the daily consumer goods subject to this tax reduction are "hot purchase" goods. Take the purchase of a certain brand of luggage as an example. If the declared import price is 1000 yuan, the import will have to pay customs duties and value-added tax of 392 yuan before the tax reduction, and only 276 yuan after the tax reduction, reducing 116 yuan.

Xu Xiu Rong, head of the tax research section of the Shanghai Classification Sub-center of the General Administration of Customs, introduced that the tax reduction on consumer goods is characterized by a large scope of tax reduction, involving 1449 tax items, covering more than 70% of the total number of tax items on consumer goods. Second, the tax reduction range is relatively large, with the average tax rate of consumer goods involved in tax reduction falling from 15.7 per cent to 6.9 per cent, with an average drop of 55.9 per cent, including 91.6 per cent for medicine and health goods; third, the implementation of tax reduction is more direct. The first four tax reductions on consumer goods were implemented by setting and adjusting the "provisional import tax rate". This tax reduction was implemented by directly reducing the "most favored nation tax rate.

Industry insiders said that in the long run, the consumer goods tax reduction policy will bring benefits to consumers and enterprises. First, the tax reduction releases a positive signal, which is conducive to expanding the import of consumer goods, which can not only meet the diversified consumption choices of the people, but also promote the reduction of market prices to a certain extent. Second, the cost of importing goods has fallen, giving enterprises room for profit promotion and commercial promotion.

More Segmented Feminine Hygiene Products Market

Return to List

The car's interior, do you really know it?

More information