Tariff to be adjusted from 2013

Details

Category: Governmental News

Published: Wednesday, 26 December 2012 20:23

Tariff against some products such as infant milk powder and lens of single-lens reflex cameras will be adjusted from January 1st, 2013. Online shop owners have been informed that price of infant milk powder will be lowered.
Tariff against infant milk powder will be cut from 20% to 5%.
To boost the economic and social development and domestic consumption, China will allow five groups of products to be imported on a tax rate that is lower than the most-favored-nation rate of duty. Lower tariffs on medical equipment and products closely related to people's livelihoods, including cardiac pacemaker and infant milk powder, have been much attention. Tariffs will also be lowered on raw materials and spare parts for the equipment manufacturing industry and strategic emerging industries, such as robots used for automobile production. Resource products as well as energy-saving and emission-reduction products will also benefit from lower rates. Products that support the development of the agriculture and textile industry are also included on the list.
Tax rate against the lens of single-lens reflex camera and of common cameras will be lowered from 15% to 4%. And that against cardiac pacemakers and vascular stents will be reduced from4% to 2%. The tax rate against infant milk powder and other food products for the infant will be lowered respectively from 15% to 5% and from 20% to 5%