Also in the news...
Find out how to import firewood, such as logs and kindling, into England, Scotland and Wales (Great Britain).
If you’re a business that currently buys goods from or sells goods to countries outside the UK, or are planning to trade with Europe from January 2021, HMRC’s new tool can help you identify ways you might be able to make the customs process easier for cheaper for your business. This short video shows you how to use the tool.
If you’re a UK business thinking about moving goods into or out of the UK , this video is here to help you understand how customs intermediaries or agents can help you. For more information have a look at the guidance available on gov.uk.
If you're buying or selling goods abroad, you need to work out the amount of duty or VAT you owe. This short video tells you how to find out the ‘commodity code’ classification for your goods, using our Trade Tariff tool. Find out more on GOV.UK
You’ll need a licence to import or export certain types of controlled goods. You may also need to pay extra duty in the UK. Unsure if this applies to your goods? This short video explains more about the types of goods that are classed as controlled. Find out more on GOV.UK
Announcement of Service Innovation Pilot Programmes
On 14 February 2016, China’s State Council announced its plan to conduct pilot programmes for the innovative development of services in 10 cities and 5 new zones under direct control of the central government (“state-level zones”) over the next 2 years.
The 10 cities are Tianjin, Shanghai, Hainan, Shenzhen, Hangzhou, Wuhan, Guangzhou, Chengdu, Suzhou and Weihai, while the 5 new state-level zones are Harbin, Jiangbei (in Nanjing), Liangjiang (in Chongqing), Gui’an (in Guizhou) and Xixian (in Shaanxi).
One of the programmes involves the extension of preferential tax policies to advanced technological service enterprises (ATSEs) within the pilot areas. The scope of enterprises entitled to the 15% Corporate Income Tax (CIT) rate (reduced from the standard 25% rate) will be expanded beyond service outsourcing enterprises to include other high-tech and high value added service sectors as well. These enterprises are also allowed to use the 8% (of total employee expenses) deduction threshold for employee education expenses (under the CIT law, deductions for these expenses are generally limited to 2.5% of total employee expenses).
Apart from preferential tax policies, the government also offers other financial and administrative support such as financial subsidies for enterprises providing research and development (R&D), energy-saving, environmental protection and environmental services, which are urgently needed by China. Hence, service or trade enterprises that qualify for such government support should take advantage of it from financial and cost-efficiency perspectives.