Break The Rumor Does The New Import Tax Increase Domestic Watch Prices?

From the end of March this year, the news that the customs will adjust the import tax on imported goods has gradually become the focus of public opinion. On April 8, the two policies previously issued by the Customs Department of the Ministry of Finance officially took effect, respectively. For the ‘Notice on Cross-border E-commerce Retail Import Tax Policies’ and ‘Notice on Adjusting Import Tax Relevant Issues on Inbound Articles’, the latter of which also issued the ‘People’s Republic of China’s Inward Import Tax Table’, this form The regulations stipulate that the import duty on high-end watches has been increased from 30% to 60%. On April 11, the General Administration of Customs issued an announcement showing the two detailed rules of the ‘Classification Table of Entry Articles of the People’s Republic of China’ and ‘Tax Duty Paid Table of Entry Items of the People’s Republic of China’. The specific plan has been settled.

    On April 15, relevant spokespersons of the Customs Department answered the public opinion questions about the situation one week after the implementation of the New Deal, and mentioned that due to the current regulatory conditions, only electronic information such as transactions, payments, and logistics can be provided for the time being. Overseas e-commerce retail imports are included in the policy implementation scope. Personal goods and cross-border e-commerce retail imports that do not meet customs requirements in providing relevant electronic information are still implemented in accordance with the post tax policy or general trade import tax policy, that is, some cross-border e-commerce retail imports are currently Post tax policies still apply.

    The New Deal currently only affects items in the customs clearance channel, while postal personal items still apply the post tax policy. Of course, compared to the past, the comprehensive tax and fee have increased. If you use the green channel clearance, it will not be affected. . Not long ago, a photo began to be circulated on the Internet. A customer paid a tax bill for a Vacheron Constantin watch with a tax-paid value of 275,000 yuan from abroad, showing that a high tax of 165,000 yuan was levied. Such a case would be the norm under the New Deal.

    At the same time, under the New Deal, improper interpretations on the Internet have caused misunderstandings of many cousins, and even rumors spread by rumors. Everyone began to rumor that domestic prices would rise because import taxes rose. To this end, the author has confirmed with the dealers, brands and national customs. This new policy is aimed at the tax reform of the main retail-based entities that used the postal tax but used goods as trade attributes. The taxation object is very clear, that is, cross-border e-commerce platforms such as Ebay, Amazon America, Rakuten Japan and other cross-border e-commerce platforms, etc., as well as individuals and purchasers, which are not targeted at regular importers such as Heng Geely, Hengdeli, Emperor, Oriental Watch Co., Ltd., and brands, etc. Therefore, the prices of domestic offline dealers and brands will not rise because of the New Deal.

Anniversary of the entry into force of the China-Switzerland Free Trade Agreement

    In addition, these distributors and brands continue to import at the previous import tax rates. In 2013, China-Switzerland signed a free trade agreement. The import tax rate of Swiss watches will gradually decrease by 60% within ten years. However, this policy has limited impact on the high-end watch market from the current point of view. The impact of the adjustment will far exceed the direct price stimulus effect of this policy.
    Since the implementation of the new tax reform, customs inspections have been significantly stronger than in the past, which has a greater impact on individual overseas shopping and cross-border purchasing agents. Some people say that purchasing agents have their own customs clearance methods, how to pass customs in the past, this year How to pass. In fact, the meaning behind the country’s new policy is clear, because some previous approaches have brought unfair competition to domestic regular market participants, so the state must regulate the cross-border e-commerce retail import market, and promote new formats and Fair competition in the traditional format allows the main body for trade purposes to be included in the supervision mechanism. According to this interpretation, the previous purchaser’s side-buckling and fluke-type approach mode may be severely beaten and blocked in the future.
    The New Deal covers a lot of content. High-end watches are just one of the items. In order to facilitate the long-term positive development of the cross-border e-commerce industry, the New Deal has related to many daily consumer goods, including maternal and infant supplies, cosmetics, tobacco, alcohol, and industrial supplies Regulations, but objectively, the Customs Department also acknowledges that it will indeed increase the overall tax burden of consumers.