Since January 1, 2012, &Nbsp; Import Cotton Sliding Tax Adjustment Method.

2011/12/22 8:54:00 17

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Slip Tax Adjustment Method For Imported Cotton

The Ministry of Finance issued a report on the 15 day, which was deliberated by the Customs Tariff Commission of the State Council and submitted to the State Council for approval. Since January 1, 2012, China's import and export tariffs will be partially adjusted.

In 2012, a certain quantity of cotton imported from the tariff quota continued to be implemented.

Sliding duty

And appropriate

adjustment

The sliding quasi taxable tax formula has the effect that the higher the import price, the lower the applicable tax rate.

The implementation of sliding tax is equivalent to setting the bottom line for imported cotton prices.

And according to the adjusted sliding tax method, when

Imported cotton

When the price is lower, the import cost has increased significantly compared with the adjustment.

According to the new sliding tax formula, according to the RMB exchange rate of 6.3421, the tariff rate is fixed at 40% when the price of the outer cotton is less than 51 cents / pound; when the 51 cents / pound ~100 cents / pound, the sliding tax rate decreases with the increase of the quoted price; when the quotation is above 100 cents / pound, the sliding tax is fixed at 575 yuan / ton.

According to the calculation, after the implementation of the new sliding tax policy, the cost of imported cotton is generally higher than that of 2011, and when the quotation of cotton is 80 cents / pound ~82 cents / pound, the import cost will increase to the highest level of 500 yuan / ton.

The revised formula of sliding tax is actually raising the bottom price of imported cotton, providing support for domestic cotton prices and playing a positive role in the domestic cotton market.

Affected by the news and the expected decline in cotton planting area next year, domestic cotton futures prices in Zhengzhou rose sharply in December 16th, and the main 1205 contract climbed to a two month high.