Source: IBFD Tax Research Platform News
Effective 5 August 2020, China allows the reduction of import duties and VAT or consumption tax on imports of 20 listed commodities that were previously prohibited in the Notice of State Council [1994] No. 64.
The 20 commodities concerned include:
- televisions;
- video cameras;
- video recorders;
- video players;
- audio equipment;
- air-conditioning equipment;
- refrigerators and freezers;
- washing machines;
- cameras;
- photocopy machines;
- stored program control telephone switching systems;
- microcomputers and peripherals;
- telephones;
- wireless paging systems;
- fax machines;
- electronic calculators;
- typewriters and text processors;
- furniture;
- lamps/lighting instruments; and
- food materials (condiments, meat, eggs and vegetables, seafood, fruit, soft drinks, alcohol drinks and dairy products).
The repeal of the prohibition was announced in Circular [2020] No. 36, jointly issued by the Ministry of Finance, General Customs and the State Taxation Administration.
Report from Shiqi Ma, IBFD China office