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China Introduces Surcharge on Electronic Waste; Manufacturing Sector Affected

Chinese tax authority, State Administration of Taxation (SAT) has released a declaration establishing surcharge on electronic waste in the country, on August 20, 2012.

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PRLog (Press Release) - Sep. 17, 2012 - (Sunnyvale, CA)- Chinese tax authority, State Administration of Taxation (SAT) has released a declaration establishing surcharge on electronic waste in the country, on August 20, 2012. The announcement with retrospective effect from July 1, 2012, declares that manufacturers delivering electronic goods in the country must make payment to the fund provisioned for disposal of electronic waste.

The SAT would be responsible for collections of the newly introduced charges. However, it should be noted that the export of electronic products is exempted from the ambit of this surcharge. Manufacturers have to file a special return for the same and must make the payment to local tax authority.

The surcharge would be applicable to each piece of electronic items as per the following rates:

*Surcharge for television - 13 CNY
*Surcharge for refrigerator - 12 CNY
*Surcharge for washing machine - 7 CNY
*Surcharge for air conditioning - 7 CNY
*Surcharge for compact calculator - 10 CNY
For more information on this topic email media@nair-co.com

Get the latest press releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts.

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Source:Nair & Co.
Country:United States
Industry:Business
Tags:PR, press release, China Surcharge on Electronic Waste, Chinese tax authority, China Manufacturing Sector
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