China to Cut Import Tariff and Consumption Tax on Consumer Goods
08 May 2015
The State Council decided at its executive meeting on 28 April to improve policies regarding the import and export of consumer goods to offer domestic consumers more choice.
Based on the rationale that boosting domestic consumption is an important step to sustaining growth and restructuring the economy, the meeting adopted the following policies:
1. Trial reductions of import tariffs on certain daily-use goods that have high domestic demand will be rolled out before the end of June, and the varieties of imports that enjoy tax reductions will be gradually expanded.
2. Consumption tax policies on mass consumer goods such as clothing and cosmetics will be improved along with tax reforms, and the levying scope, tariff rates and levying process will be adjusted.
3. More duty-free arrival stores will be established or will resume operation, and the variety of goods will be increased. The duty-free purchase allowance at these stores will be increased to facilitate returning mainland travellers in their purchase of foreign goods in the country.
4. Foreign visitors who make purchases will enjoy more convenient customs clearance and tax refund policies. At the same time, the requirement for voluntary declaration of imported articles for tax purposes in accordance with the law will be strictly enforced. Inspection and quarantine policies that support import by cross-border e-commerce companies will be formulated and unreasonable fees during the import process will be dropped.
5. Measures will be taken to accelerate the brand upgrading of Chinese products. The development of physical stores will be supported and online-offline interactions will be encouraged. Efforts will be made to regulate market order, crack down on fake and inferior products, and promote competition.
- Mainland China
- Mainland China