Chinanews.com, December 23. According to the Ministry of Finance website news, the State Council Tariff Commission's notice on the 2021 tariff adjustment plan (hereinafter referred to as the plan) was announced on December 23.
It is mentioned that in order to support the accelerated construction of a new development pattern and promote high-quality economic development, in accordance with the relevant provisions of the "Regulations on Import and Export Tariffs of the People's Republic of China", the import tariffs of some commodities will be adjusted from January 1, 2021.
The plan mentioned that from January 1, 2021, 883 items (excluding tariff quota products) will be implemented with temporary import tariffs; from July 1, 2021, the temporary import tariffs of 9 information technology products will be cancelled.
The most-favored-nation tax rate for information technology products listed in the schedule of the "Amendment to the Tariff Concession Schedule of the People's Republic of China on the Accession of the World Trade Organization" will be implemented on July 1, 2021.
The plan proposes to continue to implement tariff quota management on eight categories of commodities including wheat, and the quota tax rate remains unchanged.
Among them, the quota tax rate for urea, compound fertilizer, and ammonium hydrogen phosphate fertilizer.
Continue to implement the provisional tax rate of 1%.
Continue to implement sliding tariffs on a certain amount of additional imported cotton and make appropriate adjustments.
According to the plan, in accordance with the trade agreements or tariff preferential arrangements signed between my country and relevant countries or regions, in addition to the agreed tax rates that have been approved by the State Council before, and effective from January 1, 2021, the , Iceland, Australia, South Korea, Chile, Georgia, Pakistan’s bilateral trade agreements and the Asia-Pacific Trade Agreement’s treaty tariff rates have been further reduced. Among them, some imported goods originating in Mongolia will be subject to the Asia-Pacific Trade Agreement tariff rates from January 1, 2021.
From July 1, 2021, in accordance with the provisions of the China-Switzerland bilateral trade agreement and the Asia-Pacific trade agreement, the relevant treaty tax rates will be further reduced.
In addition, in accordance with the "Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Mauritius", starting from January 1, 2021, the first-year tax rate of the agreement will be applied to some commodities originating in Mauritius.
The plan stated that when the most-favored-nation tax rate is lower than or equal to the agreed tax rate, if the agreement has provisions, it shall be implemented in accordance with the relevant agreement; if the agreement has no provisions, the two shall apply from the lower.
Continue to implement preferential tax rates for the least developed countries that have established diplomatic relations with China and completed the exchange of notes. The scope of applicable commodities and tax rates remain unchanged.
The plan pointed out that starting from January 1, 2021, export tariffs will continue to be imposed on 107 commodities such as ferrochrome. Export tax rates or temporary export tax rates will be applied, and the scope and tax rates of the products collected will remain unchanged.
In addition, in order to meet the needs of industrial development and trade management, some tax items and notes have been adjusted.
After adjustment, the total number of tax items in 2021 will be 8,580.
The above plan, unless otherwise specified, will be implemented from January 1, 2021.