Imports of cosmetics are calculated mainly as customs duties, value added taxes and excise taxes. The following are the specific methods of calculation and the relevant legislation:
Tariff rates for imported cosmetics vary according to specific categories. For example:
The average tariff rate for cosmetics is 150 per cent for lips and 10 per cent for mfn。
General tariffs on eye-made cosmetics were 150 per cent and mfn 10 per cent。
The general tariff rate for finger (toy) cosmetics is 150 per cent and the mfn rate is 15 per cent。
The average tariff rate for other cosmetics is 150 per cent, with mfn import tariffs ranging from 6. 5 to 15 per cent。
Customs duties = tariff completion prices x tariff rates
Ii. Vat calculations
In accordance with article ii of the provisional regulations of the people's republic of china on vat, the vat rate for imported goods is 17 per cent. For imported cosmetics, the vat formula is:
Value added tax (vat) = (tar + tariff) x 17%
Consumption tax calculations
In accordance with article 13 of the provisional regulation of the people's republic of china on consumer taxes, imported taxable consumer goods are declared taxable by customs authorities of the declared territory. The excise tax on cosmetics is 30 per cent. Its formula is:
Excise tax = (tax excise excise price + tariff) ÷ (1 - excise tax rate) x excise tax rate
Name: excise tax amount = (tariff completion price + tariff) ÷ (1-30%) x 30%
In summary, import duties on cosmetics are the sum of customs duties, value added taxes and excise taxes. Specific taxes are calculated on the basis of specific types of cosmetics, tariff-exempt prices and corresponding rates。
