Attention, the new customs policy
Since 8 april, the individual single transaction limit has been rmb 2,000 for the full year, with a temporary exemption from customs duties on retail electronic commerce imports imported within the limit and a temporary 70 per cent levy on import value-added taxes and excise taxes。
I'm sure you have only one question when you get the news:
How will the prices of the goods we buy change
Well, look down
Mother and child and daily goods are expensive
Following the implementation of the new deal, the tax exemption of $50 will be abolished and the current system of postage taxes will be replaced by a levy of 70 per cent of the value added tax and the consumer tax rate in general trade. This represents an increase in the cost of products previously subject to a post tax of less than $50, such as food, health care, milk powder, paper diapers, etc., from zero to 70 per cent of the statutory tax liability. The most affected are food, health care, mother and child, and daily items。
For example, the new deal provides for exemption from customs duties for goods up to us$ 2,000 and a value-added tax on the import chain at 70 per cent, calculated at a basic rate of 17 per cent for packaging goods, multiplied by 0. 7 or 11. 9 per cent。
Before the new deal: tax-free, total price = $120
After the new deal: 11. 9 per cent tax paid, total price = 120 + 120 x 11. 9 per cent = $134. 28 (up $14. 28)
Partial cosmetics, digital products or cheap
Of course, with the implementation of the new policy, the tax burden on not all commodities has risen. Taxes on partial cosmetics and digital products were lower than before。
For example, for the purchase of $1,000 perfume, the policy-adjusted ex-post tax rate is 50 per cent and the policy-adjusted final rate is 32. 9 per cent (17 per cent vat and 70 per cent of 30 per cent excise tax)。
Before the new deal: total price = 1000 + 1000 x 50% = 1500 yuan
After the new deal: total price = 1000 + 1000 x 32. 9% = $1329 (minus 171)
The new regulations make it clear that, in order to meet the operational requirements of day-to-day inquisitorial operations, a list of retailed imports of cross-border electronic commerce will be prepared and published separately. Thus, the extent to which the final prices have changed has yet to be determined after the publication of the list of commodities。
