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State Council announces 2020 version of "Import and Export Tariffs" effective January 1, 2020

来源: 证券日报网 2019-12-31 08: 11: 28Source: Securities Daily

Recently, the State Council Customs Tariff Commission issued a notice promulgating the "Import and Export Tariff of the People's Republic of China (2020)" (hereinafter referred to as the 2020 "Tariffs"), which will be implemented from January 1, 2020.

According to reports, the 2020 version of the "Tariffs" import and export tax items are the same as the 2019 version of the "Tariffs" and have not been adjusted; the 2020 version of the "Taxes" most-favored-nation tax rate, import tentative tax rates, agreement rates and preferential tax rates are based on the 2019 version of the "Tariffs" In the past, adjustments were made in accordance with the "Notice of the State Council Customs Tariff Commission on the Adjustment Plan for Import Tentative Tax Rates" (Inland Revenue Commission [2019] No. 50). In addition to the tax items and rates announced in the 2020 version of the Tariff Rules, laws, administrative regulations and other provisions on import and export tariffs and tax rate adjustments shall be implemented in accordance with laws and administrative regulations.

The promulgation of the 2020 version of the Tariffs is conducive to maintaining the transparency of tariff policies, providing more convenience to the public, and also continually optimizing the business environment and promoting the high-quality development of trade. (Reporter Bao Xing'an)

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