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Source: Sinochem Xinwang December 30, 2022
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On December 28, the State Council Customs Tariff Commission issued an announcement to adjust the import and export tariffs of some goods from January 1, 2023.
From 1 January 2023, my country will apply a provisional import tax rate lower than the most favored nation tax rate for 1020 goods. The first is to implement zero tariffs on some raw materials of cancer drugs, raw materials of anti-novel coronavirus drugs and painkillers, and reduce import tariffs on medical supplies such as dentures, raw materials for vascular stents and contrast agents. The second is to reduce import tariffs on homogenized mixed foods for babies and toddlers, frozen blue cod, cashews and other foods, and small appliances such as coffee makers, juicers and hair dryers. The third is to implement zero tariffs on potash fertilizers and crude cobalt, and reduce import tariffs on some wood and paper products, boric acid and other products. The fourth is to reduce import tariffs on lithium niobate, electronic ink screens, iridium oxide for fuel cells and roller bearings for wind turbines.
From January 1, 2023, my country will raise import and export tariffs on some goods. Among them, the provisional tax rate on the import of chestnuts, licorice and its derivatives, large tires, sugar cane harvesters, etc. will be abolished. and the most favored nation tax rate will be restored; they will be rose.
From July 1, 2023, my country will also implement the eighth stage of tax reduction on the MFN rate of 62 IT products. After the adjustment, my country’s overall tariff level will drop from 7.4% to 7.3%.
Under the free trade agreements and preferential trade agreements signed between my country and the relevant countries or regions, agreed tax rates will apply in 2023 for some products covered by 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 entry into force of the agreement for Indonesia, starting from January 2, 2023, the tax rate of the RCEP agreement will be implemented for some goods originating in Indonesia.
In 2023, we will continue to apply preferential tax rates for the least developed countries that have established diplomatic relations with China and completed the exchange of documents, to support and help the least developed countries accelerate their development.
To meet the needs of industrial development and scientific and technological progress, in 2023, domestic sub-items will be adjusted accordingly, and tax items such as white tea, vegetable seeds, surgical robots and laser radars will be added. After adjustment, the total number of tariff items is 8948.
