In the early years of 2024, a number of countries and regions around the globe made important adjustments to import and export tariffs and tariffs on related products. The editor compiled a summary of the most recent information on customs duties and taxes to see what changes are relevant to you
I. Switzerland
Elimination of import duties on industrial products
In a statement dated 2 january, the swiss state secretariat for economic affairs (seco) indicated that switzerland would not impose import duties on industrial goods of any origin, effective 1 january 2024. In switzerland, industrial products include production process materials such as capital goods, raw materials, salt, semi-finished products and machinery, as well as consumer goods such as bicycles, clothing and shoes. It does not apply to agricultural products such as live animals, plants, seeds and animal feed。
Ii. United states
Anti-dumping and countervailing duty on chinese meds
On 5 january, the united states department of commerce announced a final anti-dumping decision for imports from canada, china, germany, the republic of korea, the netherlands, turkey and the united kingdom of great britain and northern ireland and the taiwan region of china, with a dumping rate of 12. 52 per cent for chinese producers/exporters (an adjustment of the bond after offsetting subsidies to 111. 98 per cent)。
India
Lower tariffs on smartphone parts
In an attempt to increase mobile phone production, the government of india announced on 30 january that the tariffs for spare parts such as plastic and metal mechanical parts, sim card slots and screws would be reduced from 15 per cent to 10 per cent。
Increased tariffs on imports of gold and silver jewellery
From 22 january, the government of india's import duty on coins of gold and precious metals to be used in the manufacture of jewellery was raised from 11 per cent to 15 per cent, bringing it into line with that of silver and gold bars. The ministry of finance of india has also increased the import duty on waste catalysts containing precious metals from 10. 1 per cent to 14. 35 per cent. One government official stated that this was aimed at preventing the evasion of customs duties on gold and silver bars。
50% tariff on sugar exports
Recently, the government of india announced a 50 per cent export tariff on honey extracted from sugar refining, effective 18 january。
Lower crude oil wind tax
The indian government's notification indicates that, effective 16 january, india has reduced the crude oil windfall tax from rs 2300 to rs 1700/t。
Anti-dumping duties on printed circuit boards
In recent days, the ministry of commerce and industry of india has issued a circular final anti-dumping decision on printed circuit boards originating or imported from mainland china and the hong kong special administrative region, recommending a five-year anti-dumping duty on the products in question, including cifo-75. 72 per cent for the interior and 30 per cent for the hong kong special administrative region. The products involved are limited to six-storey printed circuit boards。
Malaysia
10% excise tax on low-cost imports sold online
The government of malaysia introduced a low-cost consumer tax policy on products from 1 january this year, imposing a 10 per cent sales tax on low-priced imports, other than cigarettes, sold online. The largest electrician platform in south-east asia, shopee, as well as major electrician platforms such as the fast-seller and lazara in china, have begun to levy sales taxes。
V. Thailand
Extension of the reduction of import duties on electric cars to 2025
At the end of 2023, the cabinet of ministers of thailand approved two draft ministerial regulations proposed by the ministry of finance: 1. The regulations of the ministry of finance on the reduction of tax rates and duty-free duty on imports of pure electric cars, and the extension of the period of duty-relief or exemption for pure electric vehicles. The recommended retail price for imports for the period from 1 january 2024 to 31 december 2025 shall not exceed 40 per cent of the reduction in the total value of the finished electric car of up to 2 million baht and shall be certified by the state excise office. 2. Draft ministerial regulations establishing the national excise tax rate (international standards for energy-efficient cars and cars with no more than 10 persons by car or seat), which is extended by two years (from january 2024 to 3 december 2025) for cars or vehicles with no more than 10 persons in seats (types 06. 01 and 06. 02) and for 1. 14 per cent of international standards for energy-efficient vehicles. This measure is a continuation of the ministry of finance's measures to reduce tariffs on imports of pure electric vehicles and to exempt them from duties。
Uzbekistan
Extension of the application of the zero-tax rate for partial food imports
According to information from the uz daily newspaper, president mirzioyev signed a decree extending the application of the zero tax on some food imports to 1 january 2025 in order to ensure stability in the prices of major foodstuffs and curb domestic inflation. Import-free commodities include cattle, fish, milk, cream, butter, eggs, bananas, citrus fruits, fruit, onions and vegetables, coffee, tea, vegetable oil, flour, cereals, flour and pasta, water, food by-products of hair-care products, and clothing for children。
Renewed excise tax on ai-80 gasoline
According to information from the uzbek satellite website, a consumption tax on imported and domestically produced ai-80 gasoline was imposed on 1 january 2024. The price of petrol at the gas station ai-80, which is part of the national petroleum and gas company of ukraine, increased from 6050 to 6,800 sum per litre. Private gas stations can amount to 8,800 sum or more。
There will be a consumption tax on soda and energy drinks
At the end of december 2023, the president signed a decree amending and supplementing the tax and budgetary policy act of uzbekistan of 2024, in which he decided to impose, as from 1 april 2024, a consumption tax of 500 sum per litre on beverages containing sweets such as sugar or other flavoured substances in consumer packaging, and a consumption tax of 2000 sum per litre on energy beverages and beverages, to be used to support the national medical development fund。
Elimination of value-added tax exemptions on waste disposal fees
Pursuant to the amendments to the utility tax and budget act, payments for garbage disposal services will be eliminated from the vat benefit as of 1 april, and residents and enterprises will pay an additional 12 per cent of vat on the basis of their original contributions。
Reducing limestone taxes
The ministry of economy and finance of the union had recently proposed a reduction of the limestone tax from 22,500 sum per ton to 6,000 sum, representing 20 per cent of its cost。
Vii. Eu
Anti-dumping duties on swat flat steel
On 11 january, the european commission issued a public announcement concerning flat steel originating in china and turkey (an affirmative anti-dumping award of 23. 0 per cent for chinese enterprises and 13. 6 per cent for turkish enterprises). The product in question is non-alloy ball flat steel with a width not exceeding 204 mm。
Korea
Continued extension of duty-free measures for products such as coffee
On 3 january, the korean ministry of agriculture, forestry and food indicated that it would continue to provide tax support policies for the food and catering sectors in 2024. Among them, the additional tax on imports of coffee, raw cocoa beans (10 per cent) was extended to december 2025; the additional tax on processed foods, such as pickled pickles, chili sauce and sauce, were extended for a further two years to december 2025. Quota tariff measures will also be promoted for 26 commodities, such as sugar and sunflower oil。
Anti-dumping duties imposed on chinese paint paper
The korean trade commission had recently issued an announcement of a positive decision on the first anti-dumping sunset review of printed paper per square metre originating in china, japan and finland, ranging from 55 to 110 grams, recommending that the korean ministry of enterprise finance continue to impose anti-dumping duties on the products in question for a period of five years, with rates of 16. 23 per cent for both china and japan, and 8. 22 per cent and 12. 94 per cent for finland。
5 measures introduced by the customs department to support sme exports
According to information from the korean customs department on 20 january, in order to enhance the export dynamism of smes, the department will continue to actively apply the tariff policy this year by taking five measures to support the proper operation of smes. Support measures include, inter alia, the postponement of customs investigations, the extension of tariff periods or instalments, the exemption from the requirement to provide guarantees, the prompt payment of export refunds and the postponement of surcharges。
Chile
New zero-tariff products
According to information published by the deputy ministry of international economic relations of the ministry of foreign affairs of chile, many of the 33 trade and economic agreements signed by chile will be adjusted this year. The first was the fta between chile and viet nam, whose schedule for tariff reductions for vietnamese goods was completed on 1 january 2024, with zero tariff treatment for all products covered by the agreement. The second is the central american free trade agreement (cafta), and some products between chile and guatemala will also benefit from zero tariff treatment as of 1 january 2024. The third is the pacific alliance framework agreement, in which chile will further reduce tariffs for some exports from colombia, mexico and peru, up to zero tariff levels by 2025 and 2030, in accordance with the protocol. Fourth, the comprehensive and progressive trans-pacific partnership agreement (cptpp), since 1 january 2024, chile has enjoyed zero-tariff treatment for all products from new zealand and some products from brunei, canada and viet nam。
X. Azerbaijan
Adjustment of import duties on selected products
On 1 january, azerbaijan's “trend” network reported that the prime minister's office had revised the list of imported and exported products and the tariff rates on imports of some products, by exempting imports of cattle, chickens, chickens, butter, mixed butter, cream, fresh and frozen tomatoes, cucumbers and cucumbers, fresh grapes, apples, pears, some oranges and other citrus juices, fruit juice, vegetable juice drinks, partial energy beverages, industrial tobacco, unprocessed cigarette cores, milk paste duties for an additional two years. At the same time, the import duty rate for almonds, date palms, onions and onions, decorated and washed gills, plasters, water-free plasters and some ceramics was adjusted to 15 per cent。
Adjustment of interest tax on bank deposits
In order to reduce the tax burden on residents and encourage long-term deposits, azerbaijan further adjusted the interest tax provisions of the tax code: from 1 january 2024, an interest tax shall be waived for a period of three years for individuals who have held deposits in branches of the republic or foreign banks for not less than 18 months in local currency and who have taken deposits after 18 months; and for accounts where monthly interest on deposits in local currency does not exceed 200 manats. In other cases, the rate of interest tax on local and foreign currency deposits remains at 10 per cent。
Xi. Argentina
6-month extension of the duty-free policy on dairy exports
The state secretariat for agriculture of the argentine ministry of economy recently announced that, pursuant to decree no. 9/2024, the period of exemption for all dairy products was extended to 30 june 2024。
Brazil
Extension of port investment tax incentives to 2028
On 23 january, a meeting on the extension of brazil's port investment tax incentives was held at the ministry of finance. At the meeting, the minister for ports and airports of pakistan, silvio filho, indicated that the port investment tax preference policy had been extended to 2028 and that tax and fee relief was expected to be between r$4 billion and r$5 billion。
Xiii. Zimbabwe
Increasing import duties on luxury cars
The government of zimbabwe issued the customs and excise (additional fees) circular 2023, raising import duties on luxury cars from 1 january 2024. The surcharges specified in the schedule to the circular will be charged against the fob price of the car. The surcharge does not apply to commercial vehicles and government-imported vehicles. Vehicles with an offshore price of between $120,000 and $0. 3 million will be taxed at 30 per cent, vehicles with a value of between $0. 3 million and $0. 7 million will be taxed at 40 per cent of value, while vehicles with a value of over $0. 7 million will be taxed at 50 per cent of value。
Algeria
No temporary protective duty on imported red meat and white meat
In december 2023, the algerian ministry of trade and export promotion issued a decree amending the list of goods subject to temporary protective tariffs and eliminating the 70 per cent temporary protective duty on imported red and white meat. According to the decree, four species of meat, fresh, refrigerated, frozen lamb, and 14 types of white meat, fresh, refrigerated, frozen poultry, are exempt from temporary protective duty. The list of goods subject to temporary protective tariffs does not contain beef products。
Sri lanka
Elimination of “port airport taxes” such as fuel imports
Sri lanka, economynext, on 2 january, reported that, with the addition of value-added tax (vat) for fuel, among others, it had cancelled a border tax entitled “port and airport tax” (pal) on the import of diesel, gasoline, liquefied petroleum gas and fertilizers。
Vat on precious stones and jewellery
Dean, head of the sri lanka gems and jewellery association (slgja), stated that, as of 1 january, for the first time, s would impose vat on precious stones and jewellery at a rate of up to 18 per cent, posing a challenge for the industry。
Xvi. Five eastern european states
Requesting eu import duties on ukrainian agricultural products
On 15 january, local time, the hungarian minister of agriculture, naji istván, indicated that the heads of the agricultural sector in eastern european countries (bulgaria, poland, hungary, romania and slovakia) had sought assistance from the european commission for the imposition of import duties on agricultural products in ukraine。
South africa
Anti-dumping duties on the replacement of windshields in the market after sale
On 18 january, the south african international trade control board (itac) (on behalf of the southern african union-sacu, which includes five countries, namely, south africa, botswana, namibia, lesotho and swaziland) issued a communiquÉ finalising the anti-dumping case for the replacement of windshield products in the after-sale market from china, with a tariff rate of 0 per cent to 129. 15 per cent。
Turkey
An anti-circumvention decision on chinese-african fabric and man-made innovation
On 19 january, the turkish ministry of trade issued proclamation no. 2023/36, in which it issued an anti-circumvention final decision on pur non-weaving products originating in china at a weight greater than 150 g per square metre and man-made treasuries greater than 150 g per square metre, and decided to avoid anti-dumping duties by importing products originating in china through northern macedonia to turkey, and therefore decided to impose a $1. 9/kg anti-dumping duty on pur non-weaving products originating in northern macedonia at a weight greater than 150 grams per square metre (tax no. 5603. 14) and on man-made treasing at a weight greater than 150 g per square metre (tax no. 3921. 13)。
Anti-circumvention finality in the china-impregnated polyurethane textile anti-dumping case
On 18 january, the ministry of trade of turkey issued an anti-circumbering final decision on impregnated polyurethane textiles originating in china, deciding that products originating in china were imported through bulgaria, france and northern macedonia to turkey in order to avoid anti-dumping duties, and therefore decided to apply the anti-dumping duty on chinese products identified in proclamation no. 2023/14 to bulgaria, france and northern macedonia, imposing an anti-dumping duty of us$ 1/kg on products subject to taxes nos. 5903. 20. 10. 100. 00 and 5903. 20. 10. 90. 00 and on products subject to taxes nos. 5903. 90. 90. 0. 00 and 5. 903. 90. 90. 0. 00 for bulgaria, france and northern macedonia. 00。
Ukraine
Exemption from vat and import duties on some military equipment
On 10 january, the national news agency of ukraine reported that president zelensky had signed a decree exempting radar systems, electronic warfare equipment and bulletproof parts from value-added tax and import duties。
Mexico
Interim measures against the initial anti-dumping competition against chinese steel screws
According to the ministry of commerce website, on 22 december 2023, the ministry of economy of mexico issued a circular in the official daily newspaper issuing a positive anti-dumping prefix on steel screws originating in china, regardless of the source of the imports, in which it issued a preliminary ruling imposing a temporary anti-dumping duty of 8. 02 per cent to 48. 08 per cent on the products involved。
Bangladesh
Extension of the exemption period for foreign loans
Recently, the mon state tax administration issued a circular extending the period of exemption for interest on loans granted by foreign lending institutions to local enterprises until 31 december 2024。
