| Tuesday, November 13, 2001, updated at 15:29(GMT+8) |
GAC Director: China to Lower Tariff Step by Step |
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As promised, China will continue lowering tariff rates, fully implement the WTO Agreement on Customs Valuation and adopt just and uniform tariff policies within the whole region after it enters the World Trade Organization (WTO), Mou Xinsheng, director of China's General Administration of Customs (GAC), Monday told the journalists.
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As promised, China will continue lowering tariff rates, fully implement the WTO Agreement on Customs Valuation and adopt just and uniform tariff policies within the whole region after it enters the World Trade Organization (WTO), Mou Xinsheng, director of China's General Administration of Customs (GAC), Monday told the journalists.
In 2005, China's tariff rates will be reduced below the average level of developing countries with the average import tariff rates for industrial products around 10 percent, said Mou. China will fully implement the WTO Agreement on Customs Valuation. Presently, China has made law-making preparations for the full implementation of the Agreement. The specific method is being studied and worked out.
According to Mou, the GAC will make major adjustment after China's entry into the WTO and will implement fair and uniform tariff policies in China in accordance with the principle of non-discrimination. China will by and by adjust and sort out the policies of tax reduction or exemption and perfect appeal and reconsideration system for tax disputes on the basis of lowering tariff rates, so as to promote regulation, justice, transparency and high efficiency in tax collection and administration by the customs.
In view of the practices of other countries, Mou added, the implementation of WTO Agreement on Customs Valuation will affect the tariff revenue to different extents. The decline of customs revenue will be more serious particularly in developing countries. China faces a serious struggle in combating price fraud after its entering into the WTO. However, Mou said, we believe that by gradually improving Chinese customs' law-enforcement environment and enhancing enterprises' awareness of law and taking more effective measures in dealing with frauds, the impact on tariff revenue can be reduced to the minimum.
By PD Online staff member Du Minghua
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