China will start to levy tariffs, a value-added tax (VAT) and a consumption tax on cross-border e-commerce retail goods on Friday, as a new policy takes effect. The personal postal articles tax previously levied on those items will be canceled. According to the new policy, the tariff rate for goods within a maximum of 2,000 yuan of a single transfer in cross-border retail and a maximum of 20,000 yuan per person per year is set at 0% temporarily. The VAT and consumption tax rate is temporarily set at 70% of the taxable amount.
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