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China Cuts Consumption Tax On Cosmetics

by Mary Swire, Tax-News.com, Hong Kong

05 October 2016


To boost domestic sales and economic growth, China's State Council has approved the elimination or reduction of consumption tax on cosmetic products.

On September 30, the State Administration of Taxation announced that, with effect from October 1, 2016, the present 30 percent consumption tax rate on "ordinary" cosmetics has been revoked.

On the other hand, from the same date, a 15 percent consumption tax rate has been retained on "high-end" cosmetics, which are defined as premium products sold at a price of RMB10 (USD1.50) per milliliter or RMB15 per piece (excluding value-added tax).

TAGS: tax | sales tax | luxury tax | China | tax authority | tax rates | Tax

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