An adjusted import tariff schedule and partially reduced tariff rates have been put in place in China, following an announcement by the Tariff Schedule Committee of the State Council.
After the reshuffling, among total 7445 tax items, more than 3000 have had the tax rate cut. The total lever of tariff rate reduced from 12 per cent in 2002 to the current 11 per cent, is lower than the developing countries’ level of 15 per cent.
With reference to the new tariff regulations, tariff rates on imported printing machinery was adjusted as following:
A total of 16 kinds of imported printing machines listed on the tax schedule has undergone tax rate reductions, 51.6 per cent of tax items have been adjusted;
The average tariff on imported printing machines has been cut by about 20 percent. The tax rate on imported offset presses has been reduced from the previous 14.8 per cent to 12.4 per cent, a decrease of 20 per cent.
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