The 2024 PRC Customs Tariff Law: A Tax Perspective on Key Highlights

June 21, 2024 | BY

Susan Mok

Daisy Duan, Sara Shi and Jinwen Shi of King & Wood Mallesons unpack the tax implications of a new law which overhauls China's system of customs tariffs

Summary

  • The promulgation of a new tariff law represents a significant shift from regulatory to legislative oversight of China's tariff system
  • Overall, the law seeks to balance the interest of taxpayers and the customs authorities
  • However, new measures on legal liability reinforce China's determination to collect all taxes due
  • Joint punitive measures also illustrate a robust stance by the authorities

 

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