China Cuts Import Duty On Refined Oil Products
29/06/2011 48
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China’s Ministry of Finance has announced import tariff reductions on a total of 33 goods, including gasoline, diesel and aviation kerosene, from July 1, 2011.
The Ministry explained the decision to reduce the duties as a means to ensure the supply of raw materials and equipment, reduce trade imbalances, promote economic growth and strengthen domestic disaster relief and emergency supplies.
Apart from oil products, in which diesel and aviation fuels will have zero tariffs, duty reductions have been also granted to such products as textiles; zinc, nickel and other non-ferrous scrap metals; and tents, inflatable mattresses, life jackets, gas masks, life detector radars and other relief items.
June 27, 2011
Source: tax-news.com
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