Import tax on some
auto parts may be tripled to 30 percent of the price, from the
current level of ten.
China's Ministry of Commerce says
it has decided to impose import duties on auto parts instead of
the complete vehicle.
These higher duties will apply
to the auto body, engines, chassis, variable transmission, turn-around
and trigging systems.
Ministry officials say the new
tax accords with international convention and is a helpful way
to prevent tax losses caused by autos assembled with imported
parts.
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