China will adjust import duties on cotton and other products starting next year

Ministry of Finance announced on the 11th that the Customs Tariff Commission of the State Council considered and the State Council approved that since January 1, 2014, China will make some adjustments to the import tariffs. Among them, according to China's accession to the WTO commitments and macro-control needs, in 2014, it continued to implement tariff quota management on the imports of 7 kinds of agricultural products such as wheat and other three types of fertilizers such as urea and urea and other 3 kinds of chemical fertilizers Implementation of the provisional quota rate of 1%. To import a certain amount of cotton into the tariff quota, continue to implement the sliding allowance tax and adjust the tax rate appropriately so as to ensure the supply and demand in the domestic cotton market are basically stable. From the amount of tax or compound tax on 47 kinds of products such as frozen chickens, according to the changes in the average import price and the exchange rate changes of the RMB against the U.S. dollar, it is necessary to appropriately adjust the amount-based tax and the compound tax on a small amount of commodities.

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