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Postal Tax Reduction! These 'overseas Buy And Sell' Benefits.
- Nov 02, 2018 -

From yesterday onwards, the customs will reduce taxes on 69.7% of imported postal articles. The import tax rates of 260 tax numbers, such as bags, cosmetics and anticancer drugs, will be reduced to varying degrees. Some people in Haitao said that this tax cut will certainly reduce the cost of Haitao, but most commodities tax reduction is not large, "specifically, it is equivalent to offset a part of the exchange rate loss".

Since yesterday, China has implemented a new tax rate on imported goods. Up to 260 items with tax numbers have benefited from the tax reduction, accounting for nearly 70% of the total number of tax numbers. At the end of the year, when the buying season arrives, this tax cut news will undoubtedly bring benefits to many consumers who often buy overseas, and the tariff cost has dropped significantly. At the same time, some overseas purchasing agencies also said that the tax reduction measures might bring them better business. However, there are also people who have said that they have reduced the amount of offshore exploration due to recent fluctuations in exchange rates.

Previously, with the approval of the State Council, the Tariff and Tax Commission of the State Council adjusted the tariff rates of import duties on imported goods. Accordingly, the General Administration of Customs issued Announcement No. 140 of 2018, clarifying the implementation of new tax reduction rules from November 1. The overall tax rate adjustment is to adjust the import tax rate of imported goods from 15%, 30% and 60% to 15%, 25% and 50%. The number of goods tax related to tax reduction accounted for 69.7% of the total tax number.

Post tax reduction

Tobacco, wine, bags, cosmetics, all benefited.

Beiqing Daily reporters noted that in this round of tax adjustment, 259 common daily consumables, including wine, cigarettes, textiles, bags, shoes, clocks, cosmetics, household appliances, photographic (video) equipment and audio-visual equipment, which are most popular among Chinese consumers, are included in the tax reduction. The tax rates for these consumer goods were reduced from 30% and 60% to 25% and 50% respectively. Among them, tobacco, alcohol, jade, high-end watches and cosmetics tax rate fell by 10%. In addition, "bags, backpacks and handbags" were originally taxed by the unit price quota of 200 yuan, which was adjusted to "separate determination". Optical media such as CD, VCD and DVD were unified under the newly added tax item "optical media", and the tax rate was set at 15%. Skin care cosmetics of 10 yuan/ml (g) or 15 yuan/piece (sheet) and above were adjusted to "high-grade skin care cosmetics". "Cosmetics" tax items, the tax rate to 50%; other non high-grade skin care cosmetics tariff down to 25%.

Hai Tao said the tax rate was lowered.

Offset some of the exchange rate losses.

In this regard, some people who often purchase overseas through the form of purchasing agent told the Beijing Youth Daily reporter that the tax cut certainly brought about a reduction in the cost of sea purchases, but the tax reduction of most commodities is not too big. For example, according to the new tax rate standard, if a high-end watch worth 20,000 yuan is purchased overseas, the original tax rate is 60%, the watch will have to pay 12,000 yuan of tax. After the adjustment, the tax will be saved by 2,000 yuan, down to 10,000 yuan, according to the 50% tax rate.

He told the Beijing Youth Daily that some of his enthusiasts have recently reduced their purchases, mainly due to changes in the exchange rate, the price has generally increased by about 10%. "Specifically, the reduction in postage tax is equivalent to offsetting part of the exchange rate loss," he said, but he said that future Taotao may be reduced.

Bird's nest, Cordyceps and other items tax number was canceled.

In addition, it is worth noting that many people were keen to buy aquatic products from overseas, as well as valuable food and nutrients such as bird's nest, Cordyceps sinensis, velvet antler and ejiao. Although they had been banned by the Ministry of Agriculture and the State Administration of Quality Inspection and Quarantine before, they mailed imported animals and plants and their products and other quarantined animal catalogues, they were still in progress. Still exist in the tariff items, forming a "contradiction". In response, in this adjustment, the original "aquatic products", "bird's nest", "cordyceps sinensis", "deer antler" and "donkey-hide gelatin" and other prohibited imported goods were abolished. This means that these items are still subject to the prohibition of carrying and mailing into the country, which should be paid special attention to by the Haimai people.

When do I need to pay postal tax?

It is understood that the collection of postage tax is different from the import tariff of general goods. It is mainly aimed at the import tax of luggage and personal postal articles carried by inbound passengers, which exceeds the quantity prescribed by the customs but can still be recognized as personal goods. In accordance with the relevant provisions, the General Administration of Customs has specified that imported articles for personal use within a certain amount are exempted from import duties. For example, if an individual mails imported articles, the amount of import tax payable is less than 50 yuan (including 50 yuan), the customs will exempt them. It is reported that the principle of Customs determination is "reasonable use of oneself" and the other is "limited value". For example, personal goods sent from Hong Kong, Macao and Taiwan are limited to 800 yuan per time, while goods sent from other countries and regions are limited to 1000 yuan per time. If the above limit is exceeded, it is necessary for the postal enterprise to return the goods, or to declare the goods according to the goods and pay the import tax. However, if there is only one item in the parcel and it is inseparable, even if it exceeds the limit value and is truly for personal use after customs examination, it may be taxed into the country in accordance with the provisions on personal belongings. For the articles carried by passengers, the personal import articles acquired by the inbound resident passengers abroad, with a total value of less than 5,000 yuan (including 5,000 yuan), and those carried by non-resident passengers intended to stay in China for personal use, with a total value of less than 2,000 yuan (including 2,000 yuan), shall be released duty-free by the Customs. A single variety is limited to its own use and reasonable quantity, but tobacco products, alcoholic products and 20 kinds of commodities that should be taxed by the State shall be handled separately in accordance with the relevant provisions. In addition, passengers carrying personal import articles exceeding RMB 5,000 are truly self-used by the Customs; if non-resident passengers carrying personal import articles intended to stay in China exceed RMB 2,000, the Customs will only levy taxes on those personal import articles exceeding RMB 2,000, which are indivisible. A single piece of articles is taxed in full by post tax.

This means that both the goods carried by the passengers and mailed by the inbound residents exceed the above provisions, but still within a reasonable number of personal imported goods are subject to tax.