Import Tax on Mail to Impact Mail Orders from Hong Kong
China's new Customs tax on personal mail, which begins September 1, will effectively end the practice in Hong Kong of earning commissions for sending packages to Mainland China.
The new regulations will impose an import tax on personally mailed items into China. For individuals sending or receiving items from Hong Kong, Macau and Taiwan, import duties will be waived for packages with a dutiable value of under RMB50. Previously, import duties were waived on parcels form Hong Kong, Macau and Taiwan if the duty was below RMB400.
In addition, personal mail from Hong Kong, Macau and Taiwan valued beyond RMB800 (RMB1,000 for other countries and regions) will need to then go through Customs clearance procedures.
Typical items traded commercially between Hong Kong and the mainland of China include cosmetics, milk powder, handbags and other low cost fashion or consumer items. Hong Kong as a duty free port tends to enjoy lower prices than many products in China and, since the melamine milk powder scandal of 2008, has also been a major provider of processed dairy items to China via this route.
Agents have been set up to handle the traffic with one of the largest, Taobao – currently the biggest e-commerce platform in China, likely to be badly hit by the new restrictions. The total trade estimate of goods shipped in this way is reckoned to be somewhere in the region of US$1.2 billion annually.
It is expected that customs, especially in Guangdong Province, will more closely monitor packages coming in from Hong Kong.
Questions and Answers
We have now made it possible to open up corporate bank accounts in Honk Kong without a need to visit Hong Kong (no personal accounts please). Hong Kong today is one of the best private offshore tax havens in the world. They have not signed any Tax Information Sharing Agreements and have world-class banks.
Hong Kong has been an international business centre. Located at the heart of Hong Kong, HIBC Business Centre is providing a full range of services covering virtually all the needs of office users including virtual office, business registration of companies, accounting and tax as well as trade mark registration.
Apart from basic business centre services, they also take care of the needs of office users ranging from office set-up to business admin services.
Many internationally minded businesses in Europe, North America or elsewhere use registered office addresses as their principal point of contact. However, when tendering for contracts, especially in communist or ex-communist countries, using such addresses as the contact point for tenders can lead to disqualification from the bid process.
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