Edited and translated by People's Daily Online
Approved by Chinese State Council, the provisional imported tax rates of four tax items including liquid crystal display boards and camera eyepieces will be adjusted beginning from April 1, 2012, announced by the Ministry of Finance on March 22, 2012.
The provisional tax rates of 3 percent for the 32-inch and above imported liquid crystal display boards without a backlight module will be cancelled. The most-favored-nation tax rates of 5 percent will apply.
The other three tax items are crosscut knives used on paper cutter, camera eyepieces with a diopter control apparatus and other eyepieces with a diopter control apparatus. The most-favored-nation tax rates of the three items in 2012 will be 8 percent, 15 percent and 15 percent respectively and the provisional tax rates are 3 percent, 10 percent and 10 percent.
According to the most-favored-nation clauses, the tax rates of the most-favored-nations are usually no higher than that of the like products of the third country at present or in the future. The provisional tax rates normally are lower than that of the most-favored-nations, which is beneficial to import of much-needed products and will promote economic development.