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Tax Rate Increase On Inbound Traveler's Personal Belongings
August 10, 2007 |
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| Category: Industry News
News from Guangzhou Customs is that Customs has begun implementing the new "Import Tax Rule Classified Form for Inbound Traveler Luggage/Personal Belonging and Mailing Goods" and "Tax Payment Form for Inbound Traveler Luggage/Personal Belonging and Mailing Goods".
The new Import Tax Rule Classified Form has changed the tax rate from the original three levels to four levels of 10 percent, 20 percent, 30 percent and 50 percent. High-end consumables see the largest tax rate adjustment. For example, the tax rate for cosmetics has been increased from 10 percent to 50 percent, the tax rate for golf and accessories from 10 percent to 30 percent.
The new Tax Payment Form covers a broader span of goods with buyers of such new high-tech electronics as PDAs, MP3s and MP4s asked to pay a tax. It also makes clear the price of some goods whose price was not specified in the past and lowers the tariff for home appliances and some digital products.
Guangzhou Customs reminds inbound travelers who have bought goods worth more than RMB5000 or above the duty-free limit to report these items.
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Does this travel increase tax affect me in Beijing? It is all over China right?