On December 29, the Tariff Commission of the State Council issued an announcement stating that in order to enhance the linkage effect of two resources in the two domestic and international markets, starting from January 1, 2023, my country will implement a provisional import tax rate lower than the most-favored nation tax rate for 1,020 commodities.
In order to enhance the linkage effect of the two resources in the two domestic and international markets, starting from January 1, 2023, my country will implement a tentative import tax rate lower than the most-favored nation tax rate for 1,020 commodities. The first is to protect people's health and reduce the economic burden on patients, implement zero tariffs on some anti-cancer drug raw materials, anti-new coronavirus drug raw materials, and cancer analgesic drugs, and reduce import tariffs on medical supplies such as dentures, raw materials for vascular stents, and contrast media. The second is to comply with the trend of consumption upgrading, meet residents' consumption needs with high-quality supply, and reduce import tariffs on foods such as homogenized mixed food for infants and young children, frozen blue cod, and cashew nuts, as well as small household appliances such as coffee machines, juicers, and hair dryers. The third is to strengthen resource supply capabilities, improve the resilience of the industrial chain and supply chain, implement zero tariffs on agricultural potassium fertilizers, unwrought cobalt, etc., and reduce import tariffs on some wood and paper products, boric acid and other commodities. The fourth is to promote the innovative development of advanced manufacturing, accelerate industrial transformation and upgrading, and reduce import tariffs on products such as lithium niobate, electronic ink screens, iridium oxide for fuel cells, and roller bearings for wind turbines.
Starting from January 1, 2023, based on domestic industrial development and changes in supply and demand, and within the scope of my country's commitment to join the World Trade Organization, import and export tariffs on some commodities will be increased. Among them, the temporary import tax rate for chestnuts, licorice and their products, large tires, sugarcane harvesters, etc. will be canceled and the most-favored-nation tax rate will be restored; in order to promote the transformation, upgrading and high-quality development of related industries, the export tariffs on aluminum and aluminum alloys will be increased. Starting from July 1, 2023, my country will also implement the eighth step of tax reduction on the most-favored-nation tax rate of 62 information technology products. After adjustment, my country's overall tariff level will drop from 7.4% to 7.3%.
What is the "most favored nation tax rate"? The most-favored-nation rate is the lowest tariff rate given to the most-favored nation when a country imports goods. This rate is generally not higher than the tariff rate enjoyed by the same type of goods imported from a third country. The tariff rates currently implemented in our country include most-favored-nation rates, ordinary rates, agreement rates, and preferential rates. The ranking of tax rates is generally the ordinary tax rate, the most-favored nation tax rate, the agreement tax rate, and the preferential tax rate.
In order to expand the global high-standard free trade zone network, continue to promote high-level opening up to the outside world, and promote the construction of an open world economy , according to the free trade agreements and preferential trade arrangements signed by my country and relevant countries or regions, in 2023, agreement tax rates will be implemented on some goods under 19 agreements and originating in 29 countries or regions. Among them, according to the relevant provisions of the " Regional Comprehensive Economic Partnership Agreement " (RCEP) and the agreement's effectiveness in Indonesia, starting from January 2, 2023, the RCEP agreement tax rate will be implemented on some goods originating in Indonesia.
In 2023, we will continue to implement preferential tax rates for the least developed countries that have established diplomatic relations with China and completed the exchange of letters procedures, and support and help the least developed countries to accelerate their development.
In order to adapt to the needs of industrial development and scientific and technological progress, the domestic subheadings will be appropriately adjusted in 2023, adding white tea , vegetable seeds, surgical robots, lidar and other tax items. After adjustment, the total number of tax items in the tax code is 8,948.
Xiaoxiang Morning News reporter Hu Xiong
News clues broke the news channel: Download the "Morning Video" client from the application market and enter the "Morning Help" topic; or call the Morning Video news hotline 0731-85571188.
