Tariffs cut to boost spending
By Jin Jing |
April 16, 2012, Monday
|
Print Edition
Print Edition
CHINA has cut the import tariffs on some electronic devices and video cameras from yesterday while raising the dutiable price of items including cosmetics, according to the General Administration of Customs.
Industry observers said the lower tariffs would help to boost domestic consumption. The higher dutiable price may also be part of the efforts by customs to avoid losses in tariff revenue and crack down on illegal import business.
Domestic consumers will pay lower import tariffs of 10 percent on products, including leather garment, video cameras and computers, down from 20 percent previously, the customs said.
But other categories will retain the rates set in 2007, such as 50 percent for cosmetics, 10 percent for food and beverage and 10 percent for suitcases and shoes.
Besides the tariff adjustment, the customs also adjusted the dutiable value on high-end supplement, infant formula and cosmetics while that of laptops and cell phones was cut.
For example, the tariff on imported skin essence cream products will be raised by 75 yuan (US$12) per bottle after the dutiable price was doubled to 300 yuan.
For high-end supplement such as bird's nest, the customs doubled the dutiable price up to 100,000 yuan per kilogram. The dutiable value of laptops will be cut to 2,000 yuan per unit.
Industry observers said the lower tariffs would help to boost domestic consumption. The higher dutiable price may also be part of the efforts by customs to avoid losses in tariff revenue and crack down on illegal import business.
Domestic consumers will pay lower import tariffs of 10 percent on products, including leather garment, video cameras and computers, down from 20 percent previously, the customs said.
But other categories will retain the rates set in 2007, such as 50 percent for cosmetics, 10 percent for food and beverage and 10 percent for suitcases and shoes.
Besides the tariff adjustment, the customs also adjusted the dutiable value on high-end supplement, infant formula and cosmetics while that of laptops and cell phones was cut.
For example, the tariff on imported skin essence cream products will be raised by 75 yuan (US$12) per bottle after the dutiable price was doubled to 300 yuan.
For high-end supplement such as bird's nest, the customs doubled the dutiable price up to 100,000 yuan per kilogram. The dutiable value of laptops will be cut to 2,000 yuan per unit.
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