Import And Export Tariffs Will Be Adjusted In January 1, 2015

China's Ministry of Finance issued a circular on Tuesday that China will partially adjust import and export tariffs since January 1, 2015, and will import some provisional tariff rates for some imported commodities below MFN rates.

Among them, the first implementation of the import provisional tariff rate and the further reduction of tax rates include the equipment and components needed by the advanced manufacturing industries such as optical communication credit laser, automatic copper wire welding machine, environmental protection equipment such as electronic control brakes and other energy saving and emission reduction electric vehicles, energy and resource products such as ethylene, nickel iron and other domestic production, medicine and daily consumer goods such as lipid-lowering raw material, Hawaiian fruit, camera lens and so on.

At the same time, the industry, technology development and market situation should be considered as a whole, and imports of refrigeration compressors, car radios, inkjet presses and other commodities will no longer be imported.

We should appropriately raise the provisional tax rate of natural rubber and other commodities.

In 2015, tariff quota management was applied to the import of 7 kinds of fertilizers, such as wheat and other 3 kinds of agricultural products and urea, and 1% provisional quota tax rates were applied to 3 kinds of fertilizers such as urea.

A certain quantity of foreign imports of tariff quotas

We will continue to implement the sliding tax and keep the tax rate unchanged.

In 2015, China continued to levy export duties on products such as coal, crude oil, fertilizers and ferroalloys in the form of provisional tax rates.

According to the change of supply and demand situation of fertilizer and coal in China, we should adjust the export duty of chemical fertilizer appropriately, implement the uniform export tariff rate for nitrogen and phosphate fertilizers, and appropriately reduce the export tariff rate of coal products.

In 2015, according to China's signature with relevant countries or regions.

The agreement or tariff concession agreement continues to impose an agreement tax rate on some imported products originating in ASEAN countries, Chile, Pakistan, New Zealand, Peru, Costa Rica, South Korea, India, Sri Lanka, Bangladesh, Switzerland and Iceland.

Under the framework of the Closer Economic Partnership Arrangement between the mainland and Hongkong and Macao, zero tariff is imposed on products originating in Hong Kong and Macao, where preferential origin standards have been formulated.

According to the framework agreement on economic cooperation across the Straits, zero tariffs will be imposed on some products originating in Taiwan.

Preferential tax rates were applied to some commodities originating in 41 countries such as Ethiopia, Yemen and Sultan. Among them, 97% tariff items in 24 countries such as Ethiopia were subject to zero tariff preferential tariff rates.

In order to meet the needs of scientific and technological progress, industrial structure adjustment, trade structure optimization and strengthening import and export management, some tax items of import and export tariff were adjusted in 2015.

After adjustment, the total number of tariff items in China will increase from 8277 to 8285 in 2015.