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06 February 2020 China adjusts certain 2020 commodity import tariff rates Starting from 1 January 2020, China’s import tariff rates for certain commodities have been adjusted in accordance with the “Notice of the Customs Tariff Commission of the State Council on the 2020 Adjustment Plan for Import Tentative Tax Rates and Other Adjustments” (CTC Public Notice [2019] No. 50). In addition, China’s interpretation of domestic subheading of import and export tariffs has been revised as per the “Notice of the Customs Tariff Commission of the State Council on Adjusting Interpretation of Certain Domestic Subheadings” (CTC Public Notice [2019] No. 51). According to CTC Public Notice [2019] No. 50, from 1 January 2020, import tariffs for certain commodities were adjusted and are summarized as below:
According to CTC Public Notice [2019] No. 51, from 1 January 2020, the interpretation of 24 domestic subheadings have been adjusted, which are distributed in 9 chapters of the China Tariff Schedule. It is recommended that businesses conduct an analysis of the import/export tax amount changes arising from China’s tariff rate adjustments as early as possible to clarify the impact on finance and supply chain. Businesses are also advised to compare the HS codes of goods exporting to China with the China domestic subheading adjustments to ensure the accuracy of the declared HS codes and compliance with customs declarations. 1. Chapters involved in the modification of subheading notes: Chapters 7, 20, 22, 28, 54, 55, 84, 85, 86. Ernst & Young Ernst & Young (China) Advisory Limited, Shanghai
Ernst & Young Ernst & Young (China) Advisory Limited, Beijing
Ernst & Young Ernst & Young (China) Advisory Limited, Guangzhou
Document ID: 2020-5190 | ||||||||||