What is the current tariff on Australian red wine imported from Shenzhen? Starting from October 1, the Free Trade Agreement between the Government of the People's Republic of China and the Government of Australia will come into effect and reduce taxes for the first time. Dozens of categories, including wine, will benefit immediately after the agreement comes into effect. A reporter from Century Economic Report learned from an interview that until the tariffs are cleared on January 1, 2020, the tax burden on a bottle of Australian wine with a duty-paid price of RMB will be reduced by as much as 100% in the import process.
Import tax burden finally reduced by nearly 40%
So, what is the total tax burden incurred in the import process for a bottle of wine imported from Australia?
On March 1, Mr. Chen said that the taxes, value-added tax and consumption tax payable during the import process of wine are not cumulative.
First of all, enterprises and consumers must understand the taxable price, which is the basis for calculating value-added tax and consumption tax at the import stage. According to the calculation standard for the tax rate of imported wine for general trade, it is composed of the taxable price (duty-paid price + tariff approved by the customs) / (consumption tax rate
Duty-paid price is generally the abbreviation of price, including cost, insurance premium and freight CIF price .
At present, the import tariff of Australian wine is. Then, taking the customs determined that the duty-paid price of a bottle of Australian imported wine is RMB, the total tax burden incurred in the import process is as follows (all units are RMB)
The tariff is Yuan Yuan. According to the above calculation formula, the composition taxable price is. With the composition taxation price, it can be calculated that the value-added tax payable in the import link is the value rate, and the consumption tax payable in the import link is consumption
Tax rate .
Therefore, the overall tax burden on the import link of this bottle of wine is + yuan.
By the date of year, month, day when the tariff will be cleared, the tariff for a bottle of Australian imported wine with a duty-paid price of RMB will be. Still according to the above formula, the taxable price change is: The value-added tax payable in the import link is the value-added tax rate
, and the consumption tax payable in the import link is the fee rate. Then the overall tax burden of this bottle of wine in the import link is reduced to value-added tax and the sum of the consumption tax and RMB
Therefore, compared with before the tariff reduction, the tax burden on the import link of a bottle of Australian wine with a duty-paid price of RMB has been reduced by as much as RMB.
But the tariff has been reduced to zero and It is not achieved overnight. On August 1, my country’s Ambassador to Australia Ma Zhaoxu and Australia’s designated Ambassador to China Adams exchanged diplomatic notes on behalf of the two governments in Sydney on the entry into force of the China-Australia Free Trade Agreement. The two sides jointly confirmed that the "People's Republic of China"
The Free Trade Agreement between the Government of China and the Government of Australia will come into effect on 2020 and the first tax reduction will be carried out, and the second tax reduction will be carried out on 2020. According to the Economic and Commercial Office of the Consulate General in Melbourne, according to the Australian Diplomatic and Trade According to the schedule of China's tariff reduction and exemption commitments released by the Ministry of Finance, for sparkling wine and imported wine smaller than containers, tariffs will be reduced in the first year, in the second year, in the third year, and in the fourth year. It is expected to be reduced in 2018. For bulk wine, the tariff reduction plan is to gradually reduce from 10% to 20% annually
Products that account for the export trade volume will immediately achieve zero tariffs when the agreement takes effect. After the tax reduction transition period, the proportion of Australia's tax items that finally achieve zero tariffs and the proportion of trade volume will reach the level of China's tax items that achieve zero tariffs
The proportion and trade volume will respectively reach and. This greatly exceeds the tax reduction level in general free trade agreements.
Changing the imported wine market pattern
Shengtong Chen Hao believes that domestic consumers are increasingly As more and more attention is paid to whether the price of wine is reasonable, the reduction of tariffs on imported wines from Australia will inevitably have an impact on imported wines in the low- to mid-price range (below 1 yuan), further widening the gap with Chilean and Spanish wines that are ranked next. Threatening France's top position.
According to the proportion of origins of original bottled wine imports this month provided by the China Chamber of Commerce for Import and Export of Food, Native Produce and Livestock Importers and Exporters, Australia's share of the domestic bottled imported wine market is It is half that of the first-place French wine, and more than twice that of the third-place Chilean wine.
Shengtong Chen Hao analyzed that from the perspective of Chilean wine, which already enjoys the zero-tariff policy, from the tax reduction ten years ago to the official implementation of zero-tariff on January 1 this year, the share of Chilean bottled wine in the domestic imported wine market It has doubled, from less than 20 years ago to nearly today
(If you include bulk wine, Chilean wine sales in China have doubled, successfully surpassing Spanish wine and Italian wine, and firmly occupying the second place in market share. It has also had a considerable impact on the low-priced wines of France and Australia.
So, can Australian wine change the pattern of China’s imported wine market? Currently, Australia is China’s second largest importer of wine, and China is also Australia’s The third largest export market. According to the latest data released by Wine Australia, Australia's wine exports to mainland China soared in the year ending 2020, reaching Australian dollars, and sales volume increased, reaching 10,000 liters. Shengtong Chen Hao believes that domestic consumers are paying more and more attention to whether the price of wine is reasonable. The reduction and exemption of tariffs on imported wines from Australia will inevitably have an impact on imported wines with medium and low prices (less than 1 yuan). As for high-priced wines (Above 1 yuan), the domestic market entered a period of slow growth after the year, and even showed signs of recession. The reduction of tariffs on Australian wine at this time point will not have an impact on France, which has an advantage in this price range. Wine has too many impacts.
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What is the current tariff on Australian red wine imported from Shenzhen?