www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

Tax policy to get a 'cosmetic' change, reports say

By Zheng Yangpeng and Wang Zhuoqiong (China Daily) Updated: 2014-07-01 07:38

Plan seeks to exempt 'daily necessities' from levy by end of year

The Finance Ministry may scrap the consumption tax on ordinary cosmetics as part of a broader fiscal reform.

China will complete the main reform of its fiscal system by 2016 and will have a "modern" set-up in place by 2020, the Xinhua News Agency reported, quoting the Politburo as saying on Monday after a meeting.

Tax policy to get a 'cosmetic' change, reports say
Green tax mulled to help fight pollution 
Tax policy to get a 'cosmetic' change, reports say
 Revlon kisses China goodbye 

Tax policy to get a 'cosmetic' change, reports say
Small firms get a break on VAT

A plan drawn up by the ministry will separate high-end cosmetics from ordinary products. Luxury beauty products will still be subject to consumption tax, while those classified as daily necessities will be tax-exempt, the Legal Daily reported on Monday, citing sources with knowledge of the matter.

The plan will require final approval by the ministry and the State Council (the cabinet), sources told China Daily on condition of anonymity.

Specifics will be announced in the second half of this year, the Legal Daily said.

China has levied consumption taxes of as much as 30 percent on cosmetics, including high-end skincare products.

Unlike advanced economies, China imposes a consumption tax on selected consumer goods, such as cigarettes, alcohol, petroleum products, gems and vehicles, in order to discourage certain expenditures.

China also differs from advanced economies in that the latter collect consumption tax on the retailer end, while China collects it at the producer level.

The government will change the stage of collection mainly to the retailer level, probably in 2015, sources said.

Zhu Qing, professor at the School of Finance at Renmin University of China, said he's aware of the discussions on taxation of cosmetics but the specifics are still difficult to define.

Zhu said he didn't think dropping the tax on some cosmetics would boost domestic consumption, since an increasing number of Chinese consumers buy these products overseas.

He called the move a case of "throwing away the apple because of the core". Rather than cutting the tax on cosmetics, he said, it would be better to lower taxes on daily necessities such as basic food items.

But a source from a Japanese cosmetics company said this is a good time to reduce the tax and doing so will benefit consumers who won't have to rely on overseas sources for quality products.

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 一级一片免费视频播放 | 一本三道a无线码一区v小说 | 九九九九在线精品免费视频 | 香蕉tv亚洲专区在线观看 | 日本不卡高清免费 | 在线免费亚洲 | 91成人精品视频 | 亚洲精品国产成人一区二区 | 色播基地 | u影一族亚洲精品欧美激情 va欧美 | 久久久国产乱子伦精品 | 国产黄色一级毛片 | 亚洲片在线观看 | 日韩成人在线观看 | 久久爱噜噜噜噜久久久网 | 亚洲国产欧美在线人成aaa | 成人国产在线24小时播放视频 | 99免费在线观看 | 俄罗斯aa毛片一级 | 久久99热成人精品国产 | 日韩欧美精品一区二区三区 | 九九精品国产兔费观看久久 | 在线免费观看一区二区三区 | 99热久久国产精品免费看 | 成人三级视频在线观看 | 国产成人一区二区三区在线播放 | 国内精品小视频福利网址 | 亚洲欧美日本视频 | 久久精品国产午夜伦班片 | 亚洲免费在线视频观看 | 日韩一区二区不卡中文字幕 | 手机在线观看毛片 | 男人的天堂黄色 | 久久国产精品二国产精品 | 久久国产成人 | www.亚洲天堂网 | 在线视频一区二区日韩国产 | 韩国一级毛片大全女教师 | 国产一区二区三区四区五区tv | se94se最新网站 | 三级毛片在线免费观看 |