China Tariff adjustment plan for 2021-Further to reduce tariff and treaty tax rate

State Council released the China Tariff adjustment plan for 2021 on Dec. 23 2020.

Most favored nation tax rate and treaty tax rate from trade agreements countries will be further reduced accordingly.

Following are the keynotes and download links:

1. Starting from January 1, 2021, 883 items of goods (excluding tariff quota goods) will be subject to temporary import tariff rates to replace the Most favored nation tax rate;
2. Starting from January 1, 2021, the treaty tax rates for bilateral trade agreements and Asia-Pacific trade agreements between China and New Zealand, Peru, Costa Rica, Switzerland, Iceland, Australia, South Korea, Chile, Georgia, and Pakistan have been further reduced.
3. From July 1, 2021, in accordance with the provisions of the China-Switzerland bilateral trade agreement and the Asia-Pacific trade agreement, further reduce the relevant treaty tax rate. (Annex 7)

Download Original Copy at the following links:

• Annex-China Tariff adjustment plan.pdf
  Annex1-6.pdf
  Annex7.pdf