General Administration of Customs: All goods arriving in port after April 1st is applicable for new
Category: Industry Dynamics
Since the implementation of the VAT tax reduction policy on April 1st, the import enterprises will reduce the value-added tax on import links by about 225 billion yuan, effectively reducing the tax burden and capital pressure of import enterprises and further stimulating market vitality.
According to the current regulations, if the import goods are submitted for approval before the arrival of the customs, the tax rate applicable on the date of entry into the country shall be applicable to the means of transport on which the goods are loaded. In order to ensure the interests of the majority of import and export enterprises, if the goods are declared in advance, if the goods arrive in Hong Kong on or after April 1, the new VAT rate will apply. (issued by the customs)