Since December, the import tariffs on 187 items will be reduced to varying degrees. Among them, the baby car (the tariff code is 871,50000) is closely related to the toy industry, and the import tariff will be adjusted from 20% to 10%.
National Toys Import and Export Statistics: From January to September 2017, the baby carriage (tax code number 87150000) has a total export of 997 million US dollars and an import of 0.19 billion US dollars.
Expanding news
Source: Economic Observer
187 items of consumer goods will be lowered from next month: zero-tariff cosmetics for milk powder will be reduced to 5%
The reporter learned from the Ministry of Finance that starting from December 1, China will reduce import tariffs on 187 commodities, and the average tax rate will be reduced from 17.3% to 7.7%. Compared with the previous three import tariff reductions on consumer goods, the coverage is broader and the tax reduction is even stronger.
According to the "Notice of the Customs Tariff Commission of the State Council on Adjusting the Import Tariffs of Certain Consumer Goods", the total number of imported consumer goods classified by the Customs and Tariffs is 187, most of which are popular among domestic consumers, Haitao, and overseas purchases, and tax reductions. Stronger. For example, the tariff on special formula infant milk powder is reduced from 20% to zero, the tariff on cosmetics such as perfume is reduced from 10% to 5%, and the tariff on coffee machine and bread maker is reduced from 32% to 10% and 16% respectively.
The relevant person in charge of the Ministry of Finance explained that the tax reduction mainly involved three major areas related to daily life of the people. First, it adapts to the development needs of individual consumption, fashion consumption, quality consumption and brand consumption, and reduces the import tariffs on cosmetics, hairdressing products, oral care products, makeup tools, some bags, some clothing and some shoes and boots. The second is to change the lifestyle and upgrade the consumption level, better meet the people's emerging consumer demand, and reduce the import tariffs on some seafood, cheese, some dried fruits, electric razors, coffee machines, smart toilets, ski equipment and other products. . The third is to develop healthy consumption, focus on improving the quality of life of specific groups such as women, the elderly and the weak, and reduce the import tariffs on drugs, some health products, dental fixtures, special formula infant milk powder, baby carriages and other products.
It is reported that this is the fourth time since 2015 that China has lowered the import tariffs on some consumer goods. The first three tax reductions mainly selected skin care products, some clothing, some shoes and boots, some bags, diapers, specialty foods and cultural consumer goods, which have strong purchasing intentions and high tariff rates. “As of November 2017, the provisional tax rate has been imposed on 152 items of consumer goods, with an average reduction of 50%, involving an average of 10.9 billion U.S. dollars in general trade.†The above-mentioned person in charge of the Ministry of Finance said that before the tax reduction On the basis of this, this time further reduce the import tariffs on consumer goods. On the one hand, it covers a wider range of food, health care products, pharmaceuticals, daily chemicals, clothing, shoes and hats, household equipment, cultural entertainment, and daily grocery stores. The average annual import value of these consumer goods is US$13.9 billion, plus the provisional tax rate for consumer goods that continues to be maintained. The consumer goods subject to the provisional tax rate involve an annual general trade import value of approximately US$23.6 billion.
"On the other hand, the tax reduction is even stronger." The person in charge said that the newly added commodities with a provisional tax rate are generally halved according to the MFN tariff rate. For some commodities that have been tentatively taxed in the previous period, appropriate tax reductions or appropriate expansion of the scope of commodities will be carried out.
Industry experts pointed out that this large-scale, large-scale reduction of tariffs on consumer goods will undoubtedly better meet consumer demand for quality products, high-end consumer goods, and release a positive signal of high-end consumption. In addition, it will help to further expand imports and allow more countries to share the dividends brought about by China's economic development and consumption upgrades.
Jiang Zhen, an associate researcher at the China Academy of Finance and Economics of the Chinese Academy of Social Sciences, told the Economic Information Daily that some medium-to-high-end foods, maternal and child products, cosmetics, cultural entertainment and other products cannot meet the needs of domestic consumers. Most of them are still met by foreign countries. In recent years, cross-border e-commerce has developed rapidly, and it is becoming more and more common for some consumer goods to be satisfied through cross-border e-commerce import channels. This time, the tariff reduction is vigorously adjusted to meet the trend of consumer upgrading and to better meet the needs of consumers.
Will the reduction in tariff rates lead to a reduction in the final selling price of consumer goods? The above-mentioned person in charge of the Ministry of Finance said that since the tariff is based on the import price of the commodity rather than the retail price of the market, the sample shows that the tariff amount actually accounts for only 0.5% to 7% of the retail price of the commodity, thus reducing the domestic and foreign prices of the commodity. The direct effect of differences is limited. Reducing tariffs has created favorable conditions for expanding imports of consumer goods and lowering the cost of importing consumer goods. However, the changes in the import volume of related commodities and the selling prices in the domestic market are ultimately determined by the market.
It is understood that the price structure of imported goods generally includes four parts: production cost, circulation fee, tax and profit. Among them, the import link tax and fee mainly includes import tariffs, import link value-added tax and import commodity consumption tax. The VAT rate is generally 17%, and the consumption tax determines the tax rate based on different commodity attributes.
Then, is there any room for further reduction of taxes on import links? Jiang Zhen said that the consumption tax and value-added tax are different in the functional design of the two types of taxes. The value-added tax reflects the neutral function. The basic principle is that the consumption country is taxed. The exporting country must refund the tax when the goods are exported. The importing country is in the importing stage. It is necessary to collect it back, so it should not be lowered. The consumption tax mainly plays a role in regulating the consumption structure, and is similar to the tariff. Therefore, the reduction can adapt to the consumer's consumption upgrading trend, and some categories of consumption tax also have room for further reduction. Previously, China has no longer imposed a consumption tax on ordinary cosmetics since October 1, 2016, and the high-end cosmetics consumption tax rate has dropped from 30% to 15%.
The reporter also learned that the next step is to break the institutional and institutional barriers and become the key to consumption upgrading. The mid- to high-end consumption will become a new economic growth point. Specifically, emerging consumer sectors such as brand consumption, information consumption, and service consumption are expected to welcome policy packages, including further supporting the development of China's old brands, building characteristic commercial districts, optimizing import approval procedures, adding inbound duty-free shops, and simplifying the procedures for tax refunds. Policy measures and other series of "policy combination boxing."
Source: Chinese and foreign toy nets
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