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Tax For Consumer Goods May Be Cut
By Wang Yanlin |
September 30, 2011, Friday
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Print Edition
Print Edition
CHINA may lower the tax for imported consumer goods, Vice Minister of Commerce Zhong Shan said.
The ministry is now soliciting opinions for a new guideline to encourage more imports in order to balance the trade structure, he said yesterday. Among the suggestions submitted is one calling for less taxes on consumer goods imported from foreign countries.
A major obstacle holding back imports of more consumer goods is relatively high taxes, averaging 5.6 percent.
The ministry said consumer goods accounted for 5.4 percent of China's imports last year.
The ministry is now soliciting opinions for a new guideline to encourage more imports in order to balance the trade structure, he said yesterday. Among the suggestions submitted is one calling for less taxes on consumer goods imported from foreign countries.
A major obstacle holding back imports of more consumer goods is relatively high taxes, averaging 5.6 percent.
The ministry said consumer goods accounted for 5.4 percent of China's imports last year.
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