There Is No Conclusion On The Reduction Of Import Tariffs On Luxury Goods.

"Middle and high-end consumer goods" aimed at public criticism.

On June 15th, Yao Jian, spokesman of the Ministry of Commerce, said at a press conference that the import tariff would be further reduced, including the tariff of medium and high grade commodities.

He said, "tariff reduction is the general trend, and there is a consensus among various departments."

Earlier, Minister of Commerce Chen Deming (column) also said that some overseas markets had no customs duties and the mainland high-end consumer goods distribution system and other reasons, resulting in "luxury goods abroad cheap domestic expensive".

He also tends to further consider and promote tariff reduction.

Subsequently, media reports reported that the tariffs on luxury goods will soon be lowered, and cosmetics, tobacco and alcohol products will go ahead, with a reduction of 2%-15%.

The Ministry of Finance said, "not heard."

In response to this news, yesterday, Caixin reported that officials of the relevant departments of the Ministry of Finance explicitly denied this.

Officials also said they had not heard that the import tariff of high-end consumer goods should be adjusted.

It is understood that, according to the current import and export tariff, imported perfume is subject to 10% tariffs, 17% value-added tax on imports and 30% consumption tax on imported goods. Import tariffs of some wines are as high as 65%, and 17% additional value added tax and 10% import duty on imported goods are required.

In addition, according to the relevant data of the Ministry of finance, the value added tax and consumption tax of imported goods amounted to nearly 1 trillion and 50 billion yuan last year, and the tariff rate was about 202700000000 yuan, and the two share accounted for 29.5% of the central fiscal revenue.

Correlation

Tariff adjustment must be approved by the State Council.

The adjustment of import tariffs is not decided by a certain ministries.

It is understood that the adjustment of China's import and export tariff policy shall be considered and approved by the plenary session of the Customs Tariff Commission of the State Council and submitted to the State Council for approval before it can be implemented.

According to the current institutional setup, the director of the Customs Tariff Commission of the State Council is concurrently appointed by the Minister of Finance and consists of 11 ministries, including the Ministry of finance, the development and Reform Commission, and the Ministry of Commerce.

The office of the Customs Tariff Commission of the State Council is set up by the Customs Department of the Ministry of finance.

Regarding the media's perception of whether or not to lower import tariffs, the two departments of the Ministry of Finance and the Ministry of Commerce do not agree. Zhang Xiaoji, a researcher at the Ministry of Foreign Economic Research of the State Council Development Research Center, thinks that different departments represent their interests.

The import link tax is the main source of revenue. If we lower the tariff rate, we will reduce the revenue. This is an important reason for the Ministry of finance to reduce tariffs.

The Ministry of commerce is mainly responsible for business consumption and circulation.

Many domestic enterprises import large quantities of raw materials and equipment from abroad. If the import tariff is reduced, the cost of some domestic enterprises can be reduced. At the same time, the pfer of consumers' consumption abroad can help to expand the domestic consumer market. In this sense, the Ministry of Commerce hopes to lower import tariffs.

Yang Zhiyong, a researcher at the Institute of Finance and trade of the Chinese Academy of Social Sciences, said it is necessary to reduce import duties, but the Ministry of Commerce may not have the right to implement such a practice.

From an administrative point of view, the Ministry of finance is undoubtedly more authoritative on tariff issues.