Circular of General Administration of Customs on Examination and Approval of Duty-paying Value of Old Machinery and Electrical Products

Circular of General Administration of Customs on Examination and Approval of Duty-paying Value of Old Machinery and Electrical Products

Shu Shui Fa [2001] No.394

September 3, 2001

Guangdong branch of the General Administration of Customs and various customs directly under the General Administration of Customs:

Whereas China is on the point of entering the World Trade Organization, and will comprehensively implement the WTO Agreement on Customs Valuation, the regulation in the Circular on Strengthening the Administration of Old Machinery and Electrical Products Import (Guo Jing Mao Ji [1997] No.877) jointly promulgated by the State Economic and Trade Commission, the Ministry of Foreign Trade and Economic Cooperation, General Administration of Customs and the State Administration for Import and Export Commodity Inspection on December 22, 1997 obviously violates the transaction value principle of WTO Agreement on Customs Valuation, since it provided that "Tariff and other duties for old machinery and electrical products shall be calculated on the basis of the price no less than 60% of a new one".
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