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China-Myanmar RCEP agreement tax rates come into effect

Views: 0     Author: Amber     Publish Time: 2022-05-11      Origin: Site

From May 1, 2022, Myanmar's implementation of the RCEP agreement to RCEP member countries will come into effect, and China will also give preferential agreement tax rates to goods imported from Myanmar that apply the RCEP origin standards. The remaining Philippines and Indonesia of the RCEP have not yet entered into force.


The Customs Tariff Commission of the State Council issued an announcement on April 27. According to the relevant provisions of the Regulations of the People's Republic of China on Import and Export Tariffs and the Regional Comprehensive Economic Partnership (RCEP), as well as the entry into force of RCEP in Myanmar, from May 1, 2022 Since then, some imported goods originating in Myanmar will be subject to the agreed tax rates applicable to RCEP ASEAN member states; the tax rates in 2022 will be listed in the "Import and Export Tariffs of the People's Republic of China (2022)" (Announcement of the Tax Commission No. 10 in 2021 Annex) The tax rate column of the agreement is listed, and its corresponding Chinese abbreviation is "ASEAN R".


List of Chinese Tax Reductions to Other Contracting Parties

Tax reduction model

Japan

South Korea

ASEAN

Australia

New Zealand

The agreement takes effect and immediately drops to 0

25%

38.6%

67.9%

65.8%

66.1%

The transition period drops to 0

46.5%

41%

12.7%

14.2%

13.9%

11.5%

3.1%

3%

0

0

3%

3.2%

6.9%

10%

10%

Final 0 percentage tariff

86%

86%

90.5%

90%

90%

partial tax reduction

0.4%

1%

5.4%

5.5%

5.6%

Exceptional Products

13.6%

13%

4.1%

4.5%

4.4%

Note: The percentage data is the percentage of tax-reduced products by tax item.


List of tariff reductions by other contracting parties to China

Tax reduction model

Japan

South Korea

ASEAN

Australia

New Zealand




The agreement takes effect and immediately drops to 0

57%

50.4%

74.9%

29.9%

75.3%

65.4%

Final 0 percentage tariff

88%

86%

90.5%

86.3%

98.2%

91.8%

partial tax reduction

0

1.1%

5.5%

0

1.1%

8.2%

Exceptional Products

1.2%

12.9%

4%

13.7%

0.7%

0


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