Tariff to Be Cut to Benefit Wine Import in China

According to the source concerned, the China's government is considering to cut down taxes by 2%-15% for import of mid-to-high-end merchandises. This will benefit wine import at the first place.

Now the government charges 15%-25% of tariff to imported common luxury goods, but 50% to alcohols. Beside the tariff, luxury goods import also need to pay for value added tax, sales tax, excise, etc.

According to statistics, Chinese spend around 200 billion Yuan per year, buying luxury goods back home when they are abroad. Cutting down the tariff is to converting all these oversea consumption domestic.

People inside the field deem on that HK will not be shaked by its position as the "Asia Wine Trade Center", while cutting down the tariff.