China to cut import tax on some online retail purchases
By Mei Ling Tan
1 min read
China will cut import taxes on some online retail purchases starting April 8, the finance ministry said on its website on Thursday.
Goods with a value of 20,000 yuan (US$3,070) or less bought online and shipped into China would no longer be subject to customs duty, the ministry said.
Imports of goods bought online had previously been subject to customs duty, consumer tax and value-added tax, according to the ministry’s statement. The tax due will now also be capped at 70 percent of the applicable consumer tax and VAT.
Goods worth more than 20,000 yuan would be liable for the current general trade tax, the ministry said.