What is the golden tariff from Norway to China to China?
4 thoughts on “How much is Chinese diamond duty”
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What is the golden tariff from Norway to China to China?
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As of November 2019, the diamond import and export tax was 10%. From July 1, 2018, my country has reduced the most benefited national tax rate for some imported daily consumer goods, involving 1,449 tax items.
The import tariff rate of gold and silver jewelry (whether or not diamonds) decreased from 20%to 8%; the import tariff rate of platinum and other precious metal jewelry (whether or not diamonds) dropped from 35%to 10%, and precious metals with precious metals The tax rates of alloys and gold -plated materials are the same.
The import tariffs on gems and semi -gem products have also been reduced to 10%. The import tariffs made of non -compilation materials decreased from 35 % to 18 %, while the import tariffs of alkaline metal artificial jewelry decreased from 17 % to 8 %.
extension information:
1. Import tariffs are customs tariffs on imported goods and items in a country. Importing import tariffs will increase the cost of imported goods, increase the market price of imported goods, and affect the number of imports of foreign goods. Therefore, countries use import tariffs as a means of restricting foreign goods imports.
2, import tariff amount = tax payment price (the contract to the shore price) × tariff rate
3, see the import tariff query: China customs product information inquiry, in the import tariff tax, each tax item at the same time is ordinary in ordinary lists. Tax rate and minimum tax rate.
Reference information: China Government Network -Customs Tariffs of the State Council's Council on the Import of Entradling Daily Consumer Products
Chinese diamonds collect tariffs (3 %). Its tariff refers to the taxes levied by the government set up by the government when the import and export goods pass through the customs of a country. On March 7, 1985, the State Council issued the "Regulations on Import and Export and Export of the People's Republic of China". On January 22, 1987, the 19th meeting of the Standing Committee of the Sixth National People's Congress approved the Customs Law of the People's Republic of China, of which 5 was the Tariff. In November 2003, the State Council re -revised and issued the "Regulations on Import and Export Tariffs of the People's Republic of China" in accordance with the Customs Law. As a specific implementation method, the "Administrative Measures for the Taxation of Customs Export and Export of Customs of the People's Republic of China" has been reviewed and approved on December 15, 2004, and will be implemented on March 1, 2005.
Diamonds depends on what diamond you are, or have no processing
After the diamond tax adjustment, import tariffs will be reduced from 3 % to 0, the consumption tax for imports and production will be moved to retail, the tax rate will be reduced from 10 % to 5 %, and the original 17 % VAT will remain unchanged.
After adjustment, the original drill import tax burden was reduced from 33.9 % to 17 %, and the import tax burden of unsolved diamond accessories was reduced from 41.7 % to 17 %. The actual tax burdens imported by the original diamonds and fine diamonds decreased by 50 % and 60 %, respectively.
, Wu Qing, director of the China District of the International Diamond Promotion Agency DTC Diamond Promotion Center, pointed out that the adjustment of diamond import tariffs will not reduce the retail price of diamonds, but will increase, which is expected to be around 5 %.
Extended information:
The US President Donald Trump said on Thursday that the United States will levy 10 % of tariffs on Chinese goods worth $ 300 billion from September 1. This means that from the beginning of next month, all goods that enter the United States from China will levy import taxes, except for duty -free products.
The list is called the "fourth layer", including unprocessed and polished diamonds (regardless of processing or not) that entered the United States from China (regardless of processing or not), loose "artificial or semi -artificial diamonds" (regardless of processing or processing or Diamonds that are "suitable for jewelry manufacturing". The tariff on this list is expected to have an immediate impact on all consumer goods from China.
The new tariffs obviously worried the retailer, but as the diamond industry and retail analyst Aidan Golan commented on Twitter, "In 2018, the polished diamonds imported from China from China only value 2 . 33 million US dollars. "From the perspective of the diamond industry, this is not too much. The United States imported $ 22.4 billion diamonds in the past five major diamonds. It imports nearly $ 9 billion from India. "
, he said that the loss of diamonds is not a real problem. In contrast, jewelry imports are much more important. Golan wrote:" In 2018, these funds totaled 2.1 billion US dollars. "This is a threat to the industry. "
At the same time, jewelry imports from China are shrinking, and the past three years have decreased by 17.4 %. This decline is not Trump's problem or political issue, but demand, labor cost, quality and design Changes, and this is the solution. "