Tariff (CustomsDuties, Tariff) refers to a tax levied by a country’s customs on import and export goods passing through its customs territory in accordance with the laws of that country.
It is a high-level tax with a tax rate specified by the highest administrative unit of the country. For countries with developed foreign trade, tariffs are often the main revenue of national taxation and even national finance.
On December 23, 2020, the Tariff Commission of the State Council issued the 2021 tariff adjustment plan and decided to implement a tentative import tax rate lower than the most-favored nation tax rate for 883 commodities starting from January 1, 2021. Anticancer drug raw materials, hearing aids, infant milk powder raw materials and other commodities closely related to people's lives are among them.
At the same time, as China continues to expand its opening up to the outside world, some treaty tax rates and most-favored nation tax rates will also be reduced in 2021.