4 months after RCEP took effect

According to Xinhua News Agency, Hangzhou, May 14 (Reporter Wei Donghua) Ma Xiangfei, a foreign trader of Zhejiang Chuanhua Huayang Chemical Co., Ltd., inquired about the preferential treatment of a batch of fluorescent whitening agents that will be exported to Japan on the “Hangzhou Customs RCEP Intelligent Enjoyment Service Platform” tax rate. The results show that the preferential tax rate of optical brighteners under RCEP is 3.6%, which is lower than the MFN tax rate of 4.4% and the ordinary tax rate of 5.3%. Immediately, he applied for the RCEP certificate of origin online from the customs, and these products will enjoy a tariff of 3,000 yuan when they are sold to Japan.

It has been four months since the Regional Comprehensive Economic Partnership (RCEP) came into effect on January 1, 2022. According to Hangzhou Customs statistics, as of the end of April, Hangzhou Customs had issued a total of 12,455 RCEP certificates of origin, with a value of 3.498 billion yuan, and 321 million yuan of preferential imports from RCEP countries, helping enterprises in the jurisdiction to achieve import and export tax incentives of over 40 million yuan. The import and export of Zhejiang Province to other RCEP member countries increased by 10.5% year-on-year.

Hangzhou Customs said that the current foreign trade situation is complex and changeable. Hangzhou Customs will promote the RCEP tax reduction policy to benefit more foreign trade entities through digital empowerment of origin services, training of plastic models and benefits, and clearing benefits. Release the RCEP policy dividend.