It Is Expected That The "Four Red Envelopes" Will Benefit The Consumer Market.

Recently, the State Council unveiled a package to boost domestic consumption.

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On the 29 day of the regular briefing held by the Information Office of the State Council, the three departments of the Ministry of finance, the General Administration of customs and the Ministry of Commerce showed a series of policies and measures, such as tax reduction, tax adjustment, tax exemption, tax rebate and so on.

This move will benefit the consumer market and accelerate the upgrading of China's product brands.

Boosting domestic consumption demand is the focus of the State Council's policy and measures.

The first tax reduction policy will be implemented from June 1st.

China will reduce the import tariff rate of consumer goods such as clothing, footwear, skin care products, diapers and so on. The average tariff of goods will be reduced by more than 50%.

Shi Yaobin, Vice Minister of finance, said that through the pilot of the 14 tariff items to reduce import tariffs, relevant departments will assess the effect and market effect of policies on meeting the daily needs of the people, and study the next tax reduction list.

Tax adjustment: adjusting the scope of consumption tax collection

On the basis of reducing tariffs, the State Council will also adjust the scope of consumption tax in combination with the consumption tax reform.

Shi Yaobin said that on the basis of the abolition of small displacement motorcycles, automobile tires, lead-free gasoline and alcohol consumption tax, on the one hand, some high-end consumer goods and high-end services will be included in the levy scope; on the other hand, it is proposed to adjust the scope of cosmetics collection in the light of the direction of the reform of consumption tax, taking into account the improvement of residents' consumption level and changes in consumption habits.

Tax exemption: restoring and increasing duty free shops at entry ports

The more duty-free shops, the more benefit consumers buy foreign goods.

Lu Peijun, deputy director of the Customs General Administration, said that China will resume and increase the duty free shops at the entry ports according to the wishes of enterprises and the layout of ports.

He disclosed that China will prepare additional airport duty free shops according to the volume of passengers entering and leaving the country and the layout of the region. On the basis of strengthening the quota management of entry articles, China will reasonably expand the demand of our citizens.

Varieties, increase the duty free shopping volume moderately, and facilitate consumers to buy foreign products at duty free shops at ports.

Tax rebate: promoting the implementation of tax refund for overseas passengers

Attracting foreign tourists to shopping in our country is also an important goal of expanding consumption.

Shi Yaobin said that China will promote the implementation of the tax refund policy for foreign tourists shopping.

It is reported that the Ministry of finance, the General Administration of customs and the State Administration of Taxation issued a notice on the implementation of the tax refund policy for foreign tourists shopping in January 16th this year, which made clear the conditions for overseas passengers to apply for tax rebates, the tax rebate rate, the tax refund process and the way of tax refund.

At present, the General Administration of customs and the State Administration of taxation are drafting the operation documents separately.

According to the recent package put forward by the State Council to meet consumer escalation initiatives, the three sector said that China will further promote overseas passenger clearance and tax rebate facilitation, clean up unreasonable charges in the import links, and accelerate the upgrading of Chinese brand products.