New Customs Policy for Liquid Ink Jet Ink Announced in China

According to Zhuhai Daily, liquid ink jet inks have been issued a new tariff item number in China by the Customs Tariff Commission of the State Council, to enjoy much more favorable tariff policies.

Zhuhai Daily noted that the new policy, which was effective on January 1, 2014, will provide favorable tax rebates of exports and flexible customs environment to importers and exporters for liquid ink jet inks. For example, tax rebates of exports will be increased from 0% to 13% and there is no need for submitting Customs Clearance of Entry Commodities. Reporters predict that the new tax rebates of exports will create about 100 million profits for related companies in Zhuhai, China.

As was revealed by Zhuhai Daily, companies have been importing and exporting liquid ink jet inks under the unfavorable customer policy for many years. This could be one of the factors making the print consumable industry slow down. As plenty of print consumable companies are located in Zhuhai, China, the local customs tried to help break the situation and has partnered with organizations and companies to launch a research report. In order to report the situation what the print consumable industry is facing, local customs has also invited experts in field of tariff item classification to visit those companies in Zhuhai. Finally, the report has been accepted by China’s Customs Tariff Commission and the new customs policy was set for liquid ink jet inks.