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	NOTICE OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON ADJUSTING THE CONSUMPTION TAX RATE OF IMPORTED CIGARETTES

	(No.22 [2004] of the Ministry of Finance, State Administration of Taxation promulgated on January 29, 2004 and shall come into force as of March 1, 2004)


SUBJECT : TAX RATE; IMPORTED CIGARETTES
ISSUING DEPARTMENT : THE MINISTRY OF FINANCE OF THE PEOPLE'S REPUBLIC OF CHINA, STATE ADMINISTRATION OF TAXATION
ISSUE DATE : 01/29/2004
IMPLEMENT DATE : 03/01/2004
LENGTH : 376 words
TEXT :

With a view to consolidating the policy of consumption tax on imported cigarettes and home made cigarettes, and upon the approval of the State Council, we hereby adjust the consumption tax rate of imported cigarettes, and make the following notice on the relevant issues:

I. From March 1, 2004, the proportional consumption tax rate applicable to imported cigarettes shall be determined in accordance with the following measures:

1. The price of each standard carton of imported cigarettes (200 cigarettes), which are determined for applying proportional consumption tax rate = (duty-paid value + customs duty + fixed consumption tax rate) /(1 £consumption tax rate). Among them, the duty-paid value and the customs duty shall be the duty-paid value and the amount of customs duty of each standard carton of 200 cigarettes; the fixed consumption tax rate shall be 0.6 Yuan (which is converted according to the existing fixed consumption tax rate) for each standard carton of 200 cigarettes; the consumption tax rate shall be fixed as 30%.

2. In case the price of each standard carton of imported cigarettes (200 cigarettes), which are determined for applying proportional tax rate is 50 Yuan or more, the proportional tax rate applicable shall be 45%. If the price of each standard carton of imported cigarettes (200 cigarettes), which are determined for applying proportional tax rate is less than 50 Yuan, the proportional tax rate applicable shall be 30%.

II. The composite assessable value of consumption tax applicable to and the amount of taxable consumption tax on imported cigarettes shall be calculated according to the proportional consumption tax rate applicable determined in the foregoing paragraph.

1. The composite assessable value of consumption tax on imported cigarettes = (duty-paid value + customs duty + fixed consumption tax rate)/(1-proportional consumption tax rate applicable to imported cigarettes).

2. The amount of taxable consumption tax = the composite assessable value of consumption tax on imported cigarettes X the proportional consumption tax rate applicable to imported cigarettes + fixed amount of consumption tax. Among them, the fixed amount of consumption tax = quantity of imported cigarettes checked and ratified by the customs X fixed consumption tax rate, and the fixed consumption tax rate shall be 150 Yuan for each standard box of 50,000 cigarettes.