Hainan authorities will waive taxes on a number of categories of imported goods at the 2nd China International Consumer Products Expo that will take place in Haikou from April 12 to 16 this year.
It’s expected that more than 200 duty-free shops from around the world will take part in the Consumer Products Expo.
According to Xinhua, China Duty Free Group, world’s leading travel retailer, said it will support a series of activities including a conference on duty free and travel retail and a forum on sustainable consumption during the expo, and explore more business opportunities with global brands.
The tax exemption program for certain categories of imported goods displayed at the exhibition was developed last year by China’s Ministry of Finance in cooperation with the country’s General Administration of Customs.
The measures will be in effect throughout the duration of the expo and involve exemptions from import duties, import VAT, and sales tax.
A sales quota will be established for each category of tax-exempt goods.
This year’s list of duty-free items includes eight key categories, such as furniture (duty-free vendor quota of 50 items), clothing and related products (30 items), leather, fur and artificial fur products (30 items), travel goods, bags and containers (30 items), optical equipment, photo and video equipment (10 items, each not to exceed $10,000), and natural and cultured goods (10 items, each not to exceed $10,000). ), natural and cultured pearls, precious and semi-precious stones, precious metals and jewellery (five items, each unit must not exceed $10 thousand), watches, pocket watches and other items (five items, each unit must not exceed $10 thousand) and other categories of goods (the quota per seller is $20 thousand).
According to the publication, the exhibits eligible for preferential tax policies do not include animals and plants banned from being imported into the PRC, endangered animals, and plants as well as products made from them, tobacco, alcohol and cars.
The Second China International Consumer Products Expo will be held in Haikou from April 12 to 16.
The exhibition area will exceed 100 thousand square meters. The first China International Consumer Products Expo was held on May 7-10, 2021, at the Hainan International Exhibition Centre in Haikou, and was attended by representatives of 70 countries and regions, more than 2.6 thousand premium brands and more than 1.5 thousand companies.
The event attracted about 240 thousand visitors.
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