China adopts the method of ad valorem rate to calculate the import consumption tax, and taxable value consists of the price of imported goods (cost plus transportation insurance) (i.e. customs duty paid price) plus customs duties. China's consumption tax adopts the method of in-price tax, so the composition of taxable value includes consumption tax.
The formula for calculating the component tax value is:
Composition taxable value = (duty paid price+tariff amount) ÷( 1- consumption tax rate).
The calculation formula for ad valorem consumption tax is:
Taxable amount = component taxable value × consumption tax rate.
Extended information of beef import process:
1, consignor put on record (you can find an agent if you are not qualified)
2. Automatic import license (7 working days)
3. Prepare documents (self-arrangement or agency arrangement)
4. Delivery in Hong Kong (self-arrangement or agency arrangement)
5. Pre-audit of food labels in China (after the goods arrive in Hongkong)
6. Order change (operated by our company) (1 working day)
7. Labeling (done in the warehouse on behalf of the agent) (2 working days)
8. Inspection (operated by commodity inspection authorities) (1-3 working days)
9. Customs declaration (price inspection and goods inspection) (operated by customs department) (1-2 working days)
10, tax payment (1-2 working days)
1 1. Release of goods (tax day)
Baidu Encyclopedia-People's Republic of China (PRC) Provisional Regulations on Consumption Tax