China Lowers Import Tax For IT Products

According to the Customs Tariff Commission of the State Council of China, starting from January 27, 2011, the import tax of some information technology products, including computers and video camcorders, has been lowered from 20% to 10%.This means the tax of some popular imported products like Apple's iPad will be decreased from the previous CNY1,000 to at most CNY500. The current import tax includes the tariff, value added tax, and consumption tax.The commission did not reveal the reason for the tax adjustment, and the paper, signed on January 24, 2011, has been sent to the General Administration of Customs of China.A representative from the customs duty collection division at the Beijing Capital International Airport told local media that they have received the related notice. Staff from Shanghai Pudong Airport, Fuzhou Customs, and Shenzhen Customs also confirmed the issuance of the notice and said the tax rate has been adjusted.

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