Home >

Luxury Tariffs Are Expected To Be Graded.

2011/8/25 9:21:00 52

For the day ahead

Luxury goods

Whether the tax cuts should be debated in August 22nd,

Two ministries and commissions

Customs experts have come to the same view that taxable taxation is far from life for residents such as watches and jewellery.

Top luxury goods

Import tariffs can also be increased if necessary.

Luxury goods in China and huge price differentials abroad caused large numbers of Chinese to go abroad to buy luxury goods.

Not long ago, Yao Jian, spokesman of the Ministry of Commerce, said that China will further reduce import tariffs, including tariffs on medium and high grade commodities, and the relevant government departments have reached a consensus on this.

Within a week, however, Treasury officials made a very different statement, saying there was no plan to adjust import tariffs on luxury goods.

"On 22 th,"

World Luxury Association

At the 2011 China tariff seminar, although two ministries and experts are still arguing, they consistently give a solution: luxury tariffs can be graded and high tariffs can be imposed on top luxury goods.

Zhao Ping, director of the Consumer Economics Research Department of the Ministry of Commerce, believes that the so-called luxury tax reduction should be treated differently.

With the increase of income, some brands of cosmetics and bags have already entered the commodities that the middle class can afford, and are closely related to the middle-income urban residents. Such luxury goods should be drawn from the original range.

Gong Huiwen, a foreign tax research office of the tax department of the State Administration of Taxation, said that there is no luxury item in the tariff. It is necessary to define and subdivide the luxury goods and adjust the tax burden.

Domestic luxury products, such as cosmetics and fragrances, should be appropriately reduced in terms of import duties and excise duties. Domestic policies are also being studied.

For some luxury goods that are far away from most residents, such as watches, jewellery and other high-end goods, they can not reduce taxes and increase them if necessary.

Import duties

。

Liu Zuo, director of the taxation department of the State Administration of Taxation, said that

Tax reduction

Whether or not it will be seen at the end of this year.

But it should be noted that besides tariffs, there are other surcharges such as storefronts, labor and so on, which affect the price of luxury goods.

The effect of tariff reduction on its retail price may be very limited.