ANNOUNCEMENT 30 Sep 2016

On the 30th September 2016, the Chinese Ministry of Taxation announced that imported foreign cosmetics would see a reduction in VAT from 30% to 15%.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

Chinese Ministry of Taxation, 30th September 2016. (关于调整化妆品进口环节消费税的通知)
http://www.chinatax.gov.cn/n810341/n810755/c2279484/content.html

Inception date: 01 Oct 2016 | Removal date: open ended

Internal taxation of imports

From 1st October 2016, a reduction in the tax rate from 30% to 15% on imported cosmetics in China came into effect, as per an announcement from the Ministry of Taxation.

AFFECTED SECTORS