Customs Tariff Commission Notice on Suspending Tariff Concession for USA Commodities
[2018-04-09 15:30:17]
To the General Administration of Customs of China
The Customs Tariff Commission has decided to suspend tariff concession for some of import commodities originating from the United States, relevant matters as follow:
1. Tariff concession shall be suspended from 120 import commodities from USA such as fruits, and additional duty rate of 15% shall be imposed thereon along with existing duty rates.
2. Tariff concession shall be suspended from 8 import commodities from USA such as pork, and additional duty rate of 25% shall be imposed thereon along with existing duty rates.
3. Current policies for bonded control and tax reliefs thereof shall remain.
4. With the additional duty rates, relevant formulas are changed as below:
Tariff = duty-paid value × (existing duty rate + additional duty rate);
Import Consumption Tax = Import Consumption Taxable Value × Consumption Tax Rate;
Import Consumption Taxable Value = (duty-paid value + duty amount)/(1-comsumption tax rate);
Import Value-Added Tax = VAT taxable value × VAT rate;
Import VAT taxable value = duty-paid value + duty amount + consumption tax amount
5. This Notice shall enter into force as of 2 April 2018.
Annex omitted.
Customs Tariff Commission of the State Council of China
April 1, 2018
The Customs Tariff Commission has decided to suspend tariff concession for some of import commodities originating from the United States, relevant matters as follow:
1. Tariff concession shall be suspended from 120 import commodities from USA such as fruits, and additional duty rate of 15% shall be imposed thereon along with existing duty rates.
2. Tariff concession shall be suspended from 8 import commodities from USA such as pork, and additional duty rate of 25% shall be imposed thereon along with existing duty rates.
3. Current policies for bonded control and tax reliefs thereof shall remain.
4. With the additional duty rates, relevant formulas are changed as below:
Tariff = duty-paid value × (existing duty rate + additional duty rate);
Import Consumption Tax = Import Consumption Taxable Value × Consumption Tax Rate;
Import Consumption Taxable Value = (duty-paid value + duty amount)/(1-comsumption tax rate);
Import Value-Added Tax = VAT taxable value × VAT rate;
Import VAT taxable value = duty-paid value + duty amount + consumption tax amount
5. This Notice shall enter into force as of 2 April 2018.
Annex omitted.
Customs Tariff Commission of the State Council of China
April 1, 2018
Source: ETCN
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