Yesterday, I learned from Dalian Customs that the Ministry of Finance, the State Administration of Taxation and the General Administration of Customs recently jointly issued the "Announcement on Deepening the Policies on VAT Reform". From April 1, 2019, the original 16% VAT rate will be adjusted to 13% for imported goods, while the original 10% VAT rate will be adjusted to 9%, thus bringing about a great benefit to the development of foreign trade.
The relevant person in charge of Dalian Customs Tariff Office said that China generally levies VAT on imported goods, and the levy standard is consistent with that of domestic products. On May 1, 2018, China adjusted the original VAT rates of 17% and 11% to 16% and 10%, and this time it was reduced from 16% and 10% to 13% and 9% respectively. Based on the static calculation of the value of imported goods in 2018, the VAT reduction policy will reduce the VAT burden on imported enterprises by about 225 billion yuan for the whole year after it is implemented on April 1, further stimulating market vitality.
According to the current cross-border e-commerce retail import tax policy, consumers purchase goods through cross-border e-commerce retail import with a tariff rate of 0% within the personal purchase limit, and import value-added tax and consumption tax are levied at 70% of the statutory tax payable. The VAT rate on cross-border e-commerce retail imports has also been lowered simultaneously. Based on the static estimation of the value of imported goods in 2018, after the tax reduction policy is implemented, the tax burden for consumers will be reduced by 1.35 billion yuan this year, which is conducive to further promoting consumption and meeting the demand for upgrading consumption.
According to the current regulations, if the imported goods have been approved and declared by the customs before arrival, the tax rate applied on the date when the means of transport carrying the goods declare their entry shall apply. In order to ensure the interests of the vast number of import and export enterprises, the new value-added tax rate will apply to all goods imported from Declare in advance, such as goods arriving in Hong Kong on or after April 1.
In order to help Liaoning's foreign trade enterprises fully enjoy the policy dividend, Dalian Customs has earnestly made various work arrangements for the implementation of the policy. Focus on improving the acceptance of VAT rate parameter adjustment in various application systems, strengthen business training in relevant links, and ensure timely and accurate implementation of policies by various customs clearance channels; We will deepen our follow-up and guidance on the implementation of the policy, and reach out to foreign trade enterprises by conducting research in major import and export enterprises, conducting policy propaganda, and answering 12360 customs service hotline.
Dalian Customs has also made great efforts to carry out various business reforms in tax collection and administration to create a high-quality business environment. In combination with the actual situation in Dalian customs area, we have done a good job in tax administration research and tariff research, conscientiously implemented and implemented various preferential policies of the state on import and export taxes. so far, four tax administration research topics have been adopted by the state Council, saving foreign trade enterprises more than 72 million yuan in various taxes. Actively push forward the reform of customs guarantee insurance. Up to now, 93 odd-numbered forms of guarantee insurance have been approved, involving more than 30 enterprises. The average time limit for customs clearance is less than 2 hours, the guarantee amount is 1.428 billion yuan, and the guarantee cost is reduced by 28% to 46%.