CONSUMPTION TAX

China to Levy Consumption Tax on Certain Imported Refined Oil

28 May 2021

China has announced it will levy consumption tax on some refined oil starting from 12 June. According to the Ministry of Finance, in recent years a small number of enterprises have imported and processed large quantities of non-fuel oil products like certain aromatic hydrocarbon mixtures, which have become substandard fuel oil for sale and consumption through illegal channels. More

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China Offers Import Tax Incentives for Technology Innovation During 14th Five-Year Plan Period

30 April 2021

According to a circular recently issued by the Ministry of Finance, the General Administration of Customs and the State Taxation Administration, technology innovation is to be incentivised during the 14th Five-Year Plan period. More

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China Cuts Consumption Tax on Imported Cosmetics

04 October 2016

The Ministry of Finance and the State Administration of Taxation recently issued the Circular on Adjusting the Policy of Consumption Tax on Cosmetics to guide rational consumption. With effect from 1 October 2016, China’s consumption tax policy has been adjusted, and the tax item “cosmetics” has been renamed “high-end cosmetics”. More

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New Cross-Border E-Commerce Retail Import Tax Policy to Take Effect on 8 April

05 April 2016

The Ministry of Finance, General Administration of Customs and State Administration of Taxation jointly issued a new tax policy on cross-border e-commerce retail imports on 24 March. With effect from 8 April 2016, cross-border e-commerce retail goods will no longer be subject to personal postal articles tax but will be levied import tariffs, import value-added tax (VAT) and consumption tax on the goods to promote the healthy development of cross-border e-commerce. More

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Impacts of China’s Import Tariffs Reduction on Consumer Goods

04 June 2015

Starting from 1 June 2015 the import tariff rate on daily consumer products including certain garments, footwear, skincare products, and paper diapers will be slashed, at a rate averaging 50%. If lower tariffs lead to lower prices of imported goods in the mainland market, the scale of China’s imported consumer goods market is bound to further expand. More

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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. More

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China to Legislate on Real Estate Tax

24 March 2015

Business tax is scheduled to be completely withdrawn in 2015, according to China’s 12th Five-Year Plan. More

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Central Government to Cover All Export Tax Rebates from 2015

17 March 2015

China’s State Council recently issued its Circular on Matters Relating to Improving the Export Tax Rebate Burden-sharing Mechanism. More