In the past month, many countries and regions around the world have made important adjustments to the import and export tariffs and taxes of related products.
Xiaotuo has compiled a summary of the latest tariff and tax information, let's see what changes are relevant to you!
Increase import tariffs on electric vehicles and establish zero-rated quotas.
In order to stimulate domestic production, Brazil** plans to increase import duties on electric vehicles (including pure electric and hybrid) and establish a zero-rated quota, which may take effect on December 1.
According to sources, the relevant ministries in Brazil have reached a consensus on increasing the import tariff on electric vehicles, planning to increase the rate to 35% by 2026 in a gradual manner; At the same time, zero-tariff import quotas will be reduced year by year until they are eliminated in 2026.
Tariffs on 76 items will be lowered next year.
According to Yonhap News Agency on November 22, in order to strengthen industrial competitiveness and reduce the price burden, South Korea will reduce tariffs on 76 goods next year. On the same day, the Ministry of Strategy and Finance announced the "2024 Regular Flexible Tariff Plan" that includes the above-mentioned contents, and it will be implemented from January 1 next year after going through the relevant procedures.
In terms of strengthening industrial competitiveness, the main commodities involved are quartz glass substrates, lithium-nickel-cobalt-manganese oxides, aluminum alloys, nickel ingots, disperse dyes, and corn for feed.
In terms of price stabilization, quota tariffs are applied to potato modified starch, sugar, peanuts, chicken, egg processed products, as well as LNG, LPG and ** for food use.
Doubling the tax refund cap for foreign tourists.
South Korea's Ministry of Finance said it will double the maximum amount of purchases that foreign tourists can enjoy instant tax refunds to 5 million won next year to attract overseas tourists and boost tourism.
Currently, foreign tourists can get a tax refund on the spot for a single purchase of less than 500,000 won at designated stores, and the total amount of purchases per person per trip cannot exceed 2.5 million won.
Reduction of the ** windfall tax.
According to the Financial Associated Press on November 16, India lowered the windfall tax from Rs 9,800 per ton to Rs 6,300 per tonne.
Consider a five-year tax cut on EV imports.
According to the Financial Associated Press, India is considering a five-year tax cut on the import of electric vehicles to attract companies such as Tesla to sell and eventually produce cars in India.
India** is working on a policy that would allow international automakers to import electric vehicles at preferential rates, on the condition that manufacturers commit to eventually making cars in India, people familiar with the matter said.
Anti-dumping duties are levied on tempered glass used in Chinese household appliances.
On November 17, the Department of Revenue of the Ministry of Finance of India issued a notice saying that it accepted the Ministry of Commerce and Industry of India on August 28, 2023 to impose a notice on the thickness of 1Between 8 mm and 8 mm, with an area less than or equal to 0The anti-dumping affirmative final ruling recommendation made on 4 square meters of tempered glass for household appliances decided to impose anti-dumping duties on the products involved in the case on China for a period of five years, with a tax amount of $0,243 per ton.
Anti-dumping duties on natural mica pearlescent industrial pigments in China.
On November 22, the Department of Revenue of the Ministry of Finance of India issued a notice stating that it accepted the final recommendation of the anti-dumping interim review made by the Ministry of Commerce and Industry of India on September 30, 2023 on non-cosmetic grade natural mica pearlescent industrial pigments originating in or imported from China, and decided to modify the anti-dumping duty on the products involved in the case with China, with the adjusted tax amount of 299 3144 metric tons, and the measure will be valid until August 25, 2026.
The tax on goods imported and exported through the Taluo port will be reduced by half.
The Taxation Bureau of the Fourth Special Region in Eastern Shan State, Myanmar, recently issued an announcement that from November 13, 2023, 50% of the tax will be reduced for goods imported and exported through China's Talok port.
Increase the special commodity tax on imported sugar.
The Ministry of Finance of Sri Lanka has notified that the special commodity tax on imported sugar will be increased from 25 rupees kg to 50 rupees kg through the ** announcement, and the revised tax standard will take effect from November 2, 2023 and will be valid for one year.
Value Added Tax (VAT) will increase to 18%.
Sri Lanka's "Morning Post" said on November 1** that Sri Lankan cabinet spokesperson Bandura Gunawardena said at a cabinet press conference that the Sri Lankan value-added tax (VAT) will be increased to 18% from January 1, 2024.
Significant reduction in import tariffs on tires.
Iran's Fars News Agency said on November 13** that Fahizadeh, chairman of the Iranian Consumer and Producer Support Organization, said that Iranian tire import tariffs will be sharply reduced from 32% to 10%, and importers will take sufficient measures to increase the market**, and we will see a decline in tires**.
Cutting import duties on gypsum.
According to the Philippine "Manila Times" on November 14**, Philippine Secretary Bo Samin signed the "Executive Order No. 46" on November 3, temporarily reducing import tariffs on natural gypsum and anhydrous gypsum to zero to support housing and infrastructure projects and boost the competitiveness of the local gypsum and cement industries, and the preferential tariff rate is valid for five years.
Lower tariffs on oil exports.
On November 15, local time, the Russian Ministry of Finance said that with the decline of the country's flagship Urals, it decided to reduce export duties to 24 per ton from December 17 dollars. This will be Russia's first cut in oil export tariffs since July. Compared to this month, 24The $7 tariff dropped by $57%, which is equivalent to 3Around $37.
Extend the import duty-free policy for electric vehicles.
Armenia will continue to exempt electric vehicles from import VAT and customs duties. In 2019, Armenia approved the exemption of VAT on the import of electric vehicles until January 1, 2022, which was extended until January 1, 2024, and will be extended again until January 1, 2026.
Anti-dumping duties are levied on China-related Wuxi steel plates.
Recently, the Thai Dumping and Subsidy Review Committee issued an announcement saying that it decided to re-implement anti-dumping measures on tin-free steel plates originating in China, South Korea and the European Union, and impose anti-dumping duties based on CIF prices, with tax rates of 4 for China53%~24.73%, South Korea 395%~17.06%, EU 1852%, effective November 13, 2023.
Anti-dumping duties are levied on China-related tin-plated steel coils.
Thailand's Dumping and Subsidy Review Committee recently issued an announcement that it decided to re-implement anti-dumping measures on tinned steel coils originating in Chinese mainland, Taiwan, the European Union and South Korea, and impose anti-dumping duties based on CIF prices, with rates of 2 for Chinese mainland45%~17.46%, 428%~20.45%, EU 582%, South Korea 871%~22.67%, effective November 13, 2023.
Anti-dumping duties are imposed on polyethylene terephthalate in China.
On November 28, the European Commission issued an announcement to make a preliminary anti-dumping ruling on polyethylene terephthalate originating in China, and preliminarily ruled that 66%~24.2% provisional anti-dumping duty. The product involved in the case is polyethylene terephthalate with a viscosity greater than or equal to 78 milliliters. The measures will take effect from the day after the announcement and will be valid for 6 months.
Anti-dumping duties are imposed on China-related zippers and their parts.
On December 4, the Argentine Ministry of Economy issued an announcement to make a preliminary anti-dumping ruling on zippers and their parts originating in China, Brazil, India, Indonesia and Peru, and preliminarily ruled that the products involved in the case were dumped by China, India, Indonesia and Peru, which caused substantial damage to Argentina's domestic industry; Finds that there was dumping of the products in question in Brazil, but that the dumping did not cause material injury or threat of injury to the Argentine industry.
Therefore, it was decided to impose % provisional anti-dumping duties on the products involved in the case in China, India, Indonesia and Peru respectively, and the measures for the products involved in the case in China, India and Indonesia will be valid for four months, and the measures for the products involved in the Peruvian case will be valid for six months; At the same time, the anti-dumping investigation of the products involved in the case in Brazil will be terminated and anti-dumping measures will not be implemented. The products involved were zippers and cloth tapes with plain metal, nylon or polyester teeth, and injection-molded chain teeth.
A safeguard tax is levied on imported paints.
On 13 November, the WTO Committee on Safeguards issued a Safeguards Circular submitted to it by the Delegation of Madagascar. On November 1, 2023, Madagascar began to implement a four-year safeguard measure in the form of a quota for imported paints, with no safeguard tax on imported paints within the quota and a 18% safeguard tax on imported paints in excess of the quota.
Overseas expatriates can import cars with zero tariff.
On November 7, Egyptian Finance Minister Mait announced that about 100,000 expatriates living abroad have registered online since Egypt launched the zero-tariff import car program again on October 30, reflecting the strong interest of overseas diasporas in this initiative. The program will run until January 30, 2024, and expatriates will not be required to pay customs duties, VAT and other taxes when imported into Egypt.
Tax on sugary drinks and unhealthy foods.
In order to reduce obesity and promote people's health, Colombia has imposed a 10% tax on sugary drinks and unhealthy foods with high ingredients such as salt and trans fats since November 1, and will increase the tax rate to 15% in 2024 and 20% in 2025.
A number of lawmakers urged ** to raise import tariffs on cars from China.
Recently, a number of bipartisan lawmakers in the United States have urged Biden to raise tariffs on imported cars made in China and to study ways to prevent Chinese companies from exporting cars from Mexico to the United States.
According to Reuters, a number of bipartisan U.S. lawmakers called for an increase in the current 25% import tariff on Chinese-made cars in a letter to U.S. Representative Tai Qi.
The U.S.** representative office and the Chinese Embassy in Washington did not immediately respond to requests. 25% of the Chinese auto tariffs were imposed by former Trump**, and Biden** extended this tariff measure.
A 15% corporate tax will be levied on foreign companies from next year.
Vietnam's National Assembly formally passed a bill on November 29 to impose a 15% corporate tax on local foreign companies, and the new law will come into effect from January 1, 2024, a move that is likely to affect Vietnam's ability to attract foreign investment. The new law applies to companies with revenues of more than €750 million (about S$1.1 billion) in at least two of the last four years. **It is estimated that 122 foreign companies in Vietnam will be subject to the new tax rate next year.
Abolition of business tax.
According to the Algerian TSA, Algeria** Tebben announced at a cabinet meeting on October 25 the abolition of business tax on all businesses, a measure that will be included in the 2024 finance bill. Last year, Argentina abolished the business tax on enterprises in the production sector, and this year Argentina has extended this measure to all enterprises.
*: Zhejiang Trade Promotion. )
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