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China Slashes Import Tariffs On Consumer Goods

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

30 November 2017


China is to reduce the import duty on 187 consumer goods categories from December 1, 2017, the State Council Tariff Commission announced on November 22.

Some of the biggest cuts apply to men and women's clothing: tariffs on wool and synthetic suits will be cut from 25 percent to 10 percent.

Household appliances will also see cuts, with duties on refrigerators to be cut from 30 percent to 15 percent, while other appliances such as electric irons and coffee machines will also see significant reductions.

Over 30 types of food will have duties slashed by about 50 percent, as will a wide range of medicines.

Import duties on baby nappies will be removed altogether (from their current level of 7.5 percent). Duties on lactose-free baby milk powder will be cut from 20 percent to zero, while rates for other types of infant formula will be cut from 15 percent to 2 percent.

According to state media sources citing the Ministry of Finance, the average import tax on the listed products will drop from 17.3 percent to 7.7 percent.

TAGS: Finance | tax | tariffs | China | food | import duty

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