China Laws and Regulations Update in December 2017

1. Circular Notice on Adjusting Import Taxes on Certain Commodities
Promulgated by the Ministry of Finance
Document number: No.25 [2017] TB
Promulgation date: 22nd November 2017
Effective date: 1st December 2017

As from 1st December 2017 import taxes on certain commodities are reduced based on current tax rates. The import tax reduction this time applies to 187 commodities with an 8-digit tax number such as food, healthcare products, medicine, cosmetics, clothes, shoes and hats. The average tax rate is reduced from 17.3% to 7.7%. The tax rate of diapers and nappies is reduced from 7.5% to 0%. The tax rate of certain baby milk powder products is reduced from 20% to 0%. (Source: Website of the Ministry of Finance)

READ MORE