The first China Consumer Expo closed and released more than 550 new products worldwide

The reporter learned from Yinchuan customs that as the 2021 China Arab countries Expo is approaching, the participating exhibitors will welcome favorable policies. According to the notice on preferential tax policies for import exhibits sold during the period of international exhibitions in central and western regions during the "14th five year plan" jointly issued by the Ministry of finance, the General Administration of customs and the State Administration of Taxation, the import exhibits sold within the duty-free limit during the period of China Arab Expo will be exempted from import tariff, import value-added tax and consumption tax.

The notice specifies that during the exhibition period, 20 categories of commodities such as cosmetics, handicrafts, jewelry, headgear, artworks, toys, games and sporting goods can enjoy preferential tax policies, and the total tax-free sales of each exhibitor shall not exceed US $20000. The duty-free exhibits do not include the goods prohibited by the state to be imported, endangered animals and plants and their products, cigarettes, wine, automobiles and the goods listed in the catalogue of import of major technical equipment and products that are not duty-free.

According to the relevant person in charge of Yinchuan customs, on the basis of the original import tariff exemption policy, the new preferential tax policy increases the exemption of import value-added tax and consumption tax, which can reduce the taxes and fees by 30% on average for the exhibitors. On the basis of the original duty-free list of 15 categories of goods, the new preferential tax policy also adds pharmaceutical products, health care products, products from chemical industry and related industries, and carpets, There are five kinds of commodities, including fossil specimens of Paleontology and crystal specimens of minerals. It is clear that food and drink made from animals and plants can also enjoy preferential tax policies, which creates conditions for more merchants to participate in China Arab Expo.

In addition, the new policy removes the restrictions on the single price of imported exhibits of $200 or $1000, which makes the tax exemption policy more universal. The introduction of the new policy will greatly reduce the exhibition cost of the exhibitors of China Arab Expo, improve the enthusiasm of the exhibitors, and the public will see more high-quality and cheap imported goods at the exhibition.

Source: Xinhuanet