China Lowers Import Duties on iPads and Electrical Goods
Jan. 28 – The State Council approved measures to lower import duties on electrical products from 20 percent to 10 percent, with these measures effective from yesterday (January 27), the State Council Tariffs Commission has announced in a surprise move. Products with reduced import duties include computers and cameras, and has the effect of reducing, for example, duty tax on iPads from RMB1,000 (US$152) to RMB500 (US$76). Video cameras are not included in this category, and stay at the 20 percent level.
China’s current import duty covers tariff, value added tax and consumption tax. The move is probably timed to permit Chinese nationals traveling to Hong Kong and other overseas destinations over the Chinese New Year holidays to enjoy lower rates elsewhere for the products and not confront them with an expensive bill when reentering China.
Tax Exemptions for Advanced Technologies and Equipment