Friday 25 May 2018

China not cutting agriculture import taxes

Beijing, March 28, 2011

China has no imminent plans to cut taxes on imports of agricultural commodities, a government official who has direct knowledge of the situation said on Monday.

Normally the tariff commission of China's Ministry of Finance would hold a meeting in April or May to discuss any changes to the tariffs effective from July 1. Another meeting in September or October would draft tariff changes as of Jan 1.

Although temporary adjustments to import taxes could be implemented rapidly and on an ad-hoc basis, the proposed change to the longer-term tax regime would only be made at one of the regular meetings, the source said.

The source, who was not authorised to speak publicly about the sensitive issue, was reacting to market rumours of an imminent tax cut on imports of various agricultural crops and products.

Earlier this year China's Ministry of Commerce asked other ministries for opinions on a proposal to cut taxes on a range of imports, including agricultural commodities and high-tech products, sources told Reuters in February.

So far there has been no conclusion or agreement on the proposal for agricultural goods, although a document has been issued to encourage state owned companies to import manufacturing machinery and high-tech products, the source said. – Reuters

Tags: China | taxes | Imports | Beijing |

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