On Apr. 23, CHI PRL reviewed second draft of the Tarifflaw.
CHI PRL reviewed the second draft of Tariff law, which refines initial draft by specifying obligations for entities involved in cross-border e-commerce to withhold taxes.
Follows CHI PRL Apr. 2024 drafted legislative work plan, bills planned, see #209454.
Draft Law
Entities such as e-commerce platform operators, logistics companies, as well as customs declaration enterprises are identified as withholding agents for tariffs.
Enriches rules on origin of goods, stating that goods are considered to originate from where they are entirely obtained or where last substantial transformation occurred.
Allows taxpayers and withholding agents to collectively pay taxes by the fifth working day of the following month, provided they meet conditions and provide guarantees.
Apr. 26, 2024 Law Passed
On Apr. 26, 2024, CHI PRL issued order of the President on passage of the Tariff law.
The Constitution and Law Committee shared reports on first and second draft of law.
The new law aims to maintain the stability of the current tariff system and overall tax burden while improving existing systems and policies, elevating them into law.
The law consists of 7 chapters covering various aspects of tariff administration, and its enactment is seen as a concrete step towards implementing principles of tax legislation.
Provides solid institutional guarantee for maintaining import, export order, regulating tariff collection and payment, and protecting taxpayers' legitimate rights and interests.
Standardizes the setting, adjustment, and implementation of tariff items and rates, including the import and export tariff schedule as an integral part of the law.
Improves systems related to taxable amounts, tax exemptions, reductions, and special circumstances, with provisions for tariff exemption and reduction items.
Aligns with international economic and trade rules, enhances management system for tariff collection, allowing for separation between goods release, tariff determination.
At the same time, CHI GVT issued Import and export tariffs of China as an annex to the Tariff law, containing rules and instructions, import tariffs, and export tariffs.
The Tariff law and the attached annex shall both come into effect on Dec. 1, 2024.
Regulators
CHI GVT; CHI PRL
Entity Types
Corp
Reference
PR, President Order No. 23, RN STA No. 2 (2024), 4/26/2024; PR 4/23/2024
