- China reduced import VAT on 16 agricultural products, including refined and crude sunflower oil and refined rapeseed oil, from 13% to 9%.
- The measure, effective February 2, 2026, aims to lower import costs and support the domestic edible oil market and processing sector.
- A new tariff line was created for refined sunflower oil to benefit from the reduced VAT rate.
- The VAT cut also applies to various other oils and vegetable shortenings.
- US agricultural products are still subject to additional retaliatory tariffs despite the VAT reduction.
Source: ukragroconsult.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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