RCEP comes into effect for Malaysia yesterday
Hunan enterprises enjoy a total of over 3.5 million tax concessions under RCEPYuan
From 0:00 on March 18, the Regional Comprehensive Economic Partnership (RCEP) will come into effect in Malaysia, and China and Malaysia will mutually implement the agreed tax rates. Just after 0:00, Shaoyang and Xingsha Customs affiliated to Changsha Customs issued the first batch of RCEP certificates of origin for Malaysia in Hunan Province at the same time, and the visa goods will be cleared in Malaysia with zero tariff.
On the same day, Shaoyang Customs issued a RCEP certificate of origin to Malaysia for a batch of hardware tools in Shaodong City, with a value of 489,000 yuan. Chen Yanfei, manager of the foreign trade department of the manufacturer Hunan Pearl Group Import and Export Co., Ltd., said that Malaysia is one of the main markets for Shaodong’s hardware tool exports. After RCEP came into effect in Malaysia, the other customer took the initiative to request the issuance of RCEP certificates for this batch of products. After arrival, the product certificate can enjoy more customs clearance convenience at the customs of the destination country and reduce costs.
On the same day, Xingsha Customs issued a RCEP certificate of origin to Malaysia for a batch of high-precision machine tool cutting metal saw blades exported by Hunan Taijia New Material Technology Co., Ltd. The value of this batch of metal saw blades is 298,000 yuan. With the RCEP certificate, the import tax rate in Malaysia can be reduced from 5% to zero, which is expected to save 15,000 yuan in customs duties.
This year, Changsha Customs has made comprehensive use of RCEP trade in goods, rules of origin, customs procedures and trade facilitation and other measures around key industries in Hunan to promote enterprises to seize the opportunity of RCEP implementation. As of March 15, Changsha Customs has accepted a total of 256 RCEP certificates of origin from export enterprises, with a value of 225 million yuan, and accepted customs declarations of more than 10 million yuan from other RCEP parties. Enjoy a tax concession of 3.53 million yuan.
According to Changsha Customs, under the RCEP agreement, my country exports processed aquatic products, cotton yarn and fabrics, chemical fibers, stainless steel, some mechanical equipment and parts to Malaysia, as well as canned pineapple, coconut juice, pepper and other agricultural products and some chemicals exported from Malaysia to my country. , paper products, etc., new tariff reductions and exemptions can be obtained on the basis of the China-ASEAN Free Trade Area.
Since January 1 this year, RCEP has come into effect in 12 countries including China, Australia, New Zealand, Japan, South Korea and ASEAN member states (Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam, and Malaysia).
Source: Hunan Daily
Author: Huang Tingting
Editor: Liu Liangjun