China Lowers Import Value-Added Tax On Agricultural Products

31 Mar China Lowers Import Value-Added Tax On Agricultural Products

The General Administration of Customs of China (GACC) has lowered the import value-added tax (VAT) on 16 agricultural products. This change, which became effective early February, will see the VAT on the majority of the listed products decrease from 13% to 9%.

The products included are refined sunflower oil, crude sunflower oil, refined rapeseed oil, rice bran, fennel, walnut, peppercorn, apricot seed, grapeseed and peony seed oils; and shortenings made of vegetable fats and oils, and microbial fats and oils.

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