范冰冰洪金宝同居图片:China eying import tax cut to avoid losses

来源：百度文库 编辑：九乡新闻网 时间：2024/04/19 23:18:27

China eying import tax cut to avoid losses

08:43, February 21, 2011      

Email | Print | Subscribe | Comments | Forum 

Increases the bookmark twitter facebook digg Google Windowslive Delicious buzz friendfeed Linkedin diigo reddit stumbleupon

China may reduce import duty and consumption tax on some products to avoid tax losses through "unusual import methods," China National Radio reported.

The State Administration of Taxation plans to cancel the consumption tax for cosmetic products and abolish it for gold and jewelry in the longer term, according to the radio. The action aims to trim prices of imported products and encourage domestic consumption, an unidentified official said.

Purchasing through oversea agents amounted to 12 billion yuan (US$1.8 billion) last year in China, according to a report on e-commerce. The report didn't give a comparative figure from the previous year.

These agents offer lower prices as they usually evade duty and other administrative fees by bringing the items in personally.

The authorities are worried over the loss of several billion yuan in taxes annually.

Cosmetics are the most popular imported products and are subject to a tax of more than 50 percent when they enter the Chinese market.

Milk powder is another popular item following a massive melamine contamination scandal in 2008 that hit consumer confidence on domestic products. Japanese milk powder costs as little as 104 yuan in Hong Kong but 298 yuan in authorized shops on the mainland, a web user said.

"An ordinary product for foreigners can be a luxury for domestic consumers because of heavy taxes," Zhao Ping, a researcher with the Ministry of Commerce, told the Economic Observer. "This is a misfortune for Chinese consumers."

In late January China reduced the import tax on computers, video and digital cameras as well as other IT products from 20 percent to 10 percent.

Source: Shanghai DailyRelated Reading

  • China adds pork, mutton, beef onto import reporting list from April 1

  • Fiji seeking China's assistance in rice production to reduce imports

  • China's imports to bring more opportunities for world

  • Imports soaring 35.2%, RMB gaining in value

  • China's import drive to be launched

  • China cuts import duties on reconstruction materials for quake-hit Yushu

  • Reform in air at the fair

  • Foreign fuel reliance rises

  • US sets preliminary penalties on Chinese drill pipe

  • Brazil to lower tax for aluminum beverage cans import

Special Coverage
  • Focus On China
  • Shanghai World Expo 2010
Major headlines

  • Over 60,000 candidates participated in joint entrance exam

  • Record breaks again as 7.1 m take trains back on Saturday

  • Investment helps drought struggle

  • Yuan reform pace remains 'unchanged'

  • Charity transparency criticised

  • New rules to support housing tax

  • Drug misuse prevalent in public

  • Survey: Migrants have it tough

  • China vows to push forward ties with Turkmenistan

  • China key driving force of global growth: Kazakh president

Editor's Pick
Hot Forum Dicussion

  • China could, but would never go into war

  • When 'dead souls' will die in China?

  • Russia: Welcome Japan to bird view over our landscape

  • What could Israel learn from Egypt

  • India eyes big deal to beef up air force

  • Japan: Change address, stage silent protest

  • Excercise of power: Running the world

China eying import tax cut to avoid losses China plans tax change to address inequality ... China urges US to avoid harming trade, not to... China to adjust personal income tax, develop new economic powerhouse China vows to offer tax benefits for hiring e... Japan considering sharp cut in aid to China with economy overtaken China's top political advisor stresses import... China's top political advisor stresses import...[] China's import strategy should prioritize tec... Americans' right move to cut spending City sends ‘tax’ bills to major nonprofits Obama to propose 'Buffett Tax' on millionaire... US should avoid war with a rising China Taiwan F-16 sale urged to avoid 'urgent' shor... China's import growth lowest in 20 months China's cotton import down 13.8% in Aug A Very Easy to Use Excel XML Import China to offer J10 China vows to increase assistance to Mozambiq... UN chief expects international community to avoid civilian casualties in Libya China to spur overseas investment China adheres to peaceful development Law of the People's Republic of China on Individual Income Tax China urges U.S. to more fairly assess China'...