Government to Lower Import Tariffs on Numerous Commodities

   

A draft partial revision of the Customs Import Tariff, approved recently by the Executive Yuan, will strengthen Taiwan’s industrial competitiveness and bring the island’s tariff schedule into line with international norms. The revision will lower tariffs on 17 tariff lines.

The Ministry of Finance indicates that in the existing tariff schedule, the tariff rates on some parts are higher than those on finished products. To promote the rationalization of the tariff structure, the current revision will reduce the tariff on auto engines and some parts. To raise industrial competitiveness, the revision will also lower the tariff on such parts as eyeglass products, LCD displays, and camera lenses.

In addition, pursuant to the policy of conserving energy and reducing carbon emissions, the draft revision also cuts the tariff on public buses fueled by natural gas and lowers the tariff to zero for parts used in the manufacturing of hybrid public buses, electric public buses, and buses for the handicapped.

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