Contents and Changes of Imported New Taxes for Printing Equipment in 2003 (I)

It has been a year since China joined the WTO. In the new year, China has rigorously reformed its duties to join the World Trade Organization in reducing tariffs. At the same time, in accordance with the needs of China’s industrial development, the tariff and tax rates of imports and exports have been adjusted, the tariff rate has further decreased, and the total tariff level has continued to decline. . The relevant contents and changes of the new tax are now analyzed as follows:
I. Tariff adjustment of printing equipment
How does the tariff rate of printing equipment that the domestic printing industry is concerned about adjust? From the published 2003 new tariffs, we can see some changes as follows: a. The adjustment of tariff rates involves a large amount. Of the 31 tax items relating to printing equipment, 16 were adjusted and the adjusted area was 51.6%; b. The tariff rate fell sharply. Except for the adjustment of typesetting, typesetting, and platemaking equipment, most of the printing equipment tariff rates have been reduced by about 20%. The import tariffs on offset presses that people are concerned about have been reduced from 14.8% to 12.4%, a decrease of nearly 20%.
2. How much tax should be levied on the import of a printing device In fact, according to China's current taxation policy, import printing equipment must collect a value-added tax of 17% in addition to the tariff. What needs to be explained here is that the tax collected is not a simple addition of the two tariffs and VAT, but a tariff, and a VAT on the basis of the amount of the machine after the tariff has been collected.
Third, new requirements for foreign printing companies to import printing equipment The printing equipment imported by foreign-funded printing enterprises may be conducted in accordance with the provisions of Announcement No. 25 promulgated by the General Administration of Customs on October 1, 2002. The specific rules are:
a. All imported equipment of the "all export items" in the "Foreign Investment Guide Catalogue" approved after October 1, 2002 (including the date of approval) shall be subject to the import duty first. And import link VAT. From the day the project is put into production, the Ministry of Foreign Trade and Economic Cooperation and the relevant departments shall form a joint verification team to verify the direct export of products. The verification period shall be five years. The specific verification measures shall be formulated by the Ministry of Foreign Trade and Economic Cooperation in conjunction with relevant departments. After the verification, if the situation is true, 20% of the tax paid will be returned each year and all will be returned within 5 years. If the situation is not true, the tax will not be returned in the same year, and the tax refunded by the project will be recovered, and a penalty shall be imposed according to law;
b. All export projects that have been approved before the implementation date of the policy adjustment still need to continue importing the equipment under the project, and still implement the tax exemption policy. However, within five years from the start of project production, the relevant departments must investigate the direct export situation of the product; If the "all export items" that have been approved before the implementation date of the adjustment have been imported into the equipment, the export status of the products before the implementation of the policy adjustment will no longer be verified. Within the remaining verification period after the implementation of the policy adjustment, there will be a selection of product export conditions. Investigate. The problems found in the above verifications will be dealt with according to law. The specific measures shall be formulated by the Ministry of Foreign Trade and Economic Cooperation in conjunction with relevant departments;
c. The newly approved “all export items” import equipment will be refunded within 5 years in accordance with the “Notice of the Ministry of Finance, State Economic and Trade Commission, the General Administration of Taxation, and the General Administration of Customs on the Refund of Certain Import Commodities” ([94]). No. 42) implementation of the regulations.

(To be continued)