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China to Lower Import Tax Rates on High-end Cosmetics from November 1

China Ministry of Finance will lower import taxes on high-end cosmetics from 60% to 50% from November 1, 2018. China Ministry of Finance decided to adjust the import tax rates on imported articles. Drugs are included in the import tax item 1 and subject to a 15% tax rate. Lower import tax rates on item 2 and 3 (lowered to 25% and 50% respectively). High-end cosmetics belong to item 3...

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