On July 6th, 2000, the General Administration of Customs issued the revised Measures for the Supervision of Duty-free Shopping for Passengers in Hainan Island, People's Republic of China (PRC).
Under any of the following circumstances, outlying island passengers shall not enjoy the duty-free shopping policy for outlying islands within 3 years, and may be included in relevant credit records in accordance with relevant regulations:
Buying duty-free goods for others or reselling the purchased duty-free goods in the domestic market for profit;
When purchasing or withdrawing duty-free goods, provide false identity documents or travel documents, use non-compliant identity documents or travel documents, or provide false information about outlying islands;
Other acts in violation of customs regulations.
Last week, the new policy of duty-free shopping for tourists from outlying islands in Hainan was implemented, and the number of duty-free goods in the new policy increased from 38 to 45.
In fact, the prosperous era of purchasing people's "monthly income of 100 thousand" officially ended at the beginning of last year. On June 65438+ 10/day, 2000, the Electronic Commerce Law of the People's Republic of China was formally implemented. It not only stipulates that natural persons, personal purchasing agents and WeChat merchants who engage in goods and services business activities by means of WeChat circle of friends and live broadcast belong to e-commerce operators, but also must go through industrial and commercial registration according to law, obtain relevant administrative licenses and pay taxes according to law. It is also clear that individuals engaged in small transactions do not need to be registered as market entities, but the part exceeding RMB 5,000 should also be declared and taxed according to law, otherwise a fine of 2 to 50 yuan will be imposed.
In addition, the goods that have not been released duty-free, together with the total purchase of port duty-free shops exceeding 8,000 yuan, still need to be declared. This means that not only purchasing, but also ordinary tourists need to pay taxes when they return to China to help their relatives and friends buy or bring gifts. Even if the goods purchased in duty-free shops exceed the limit, they still need to pay taxes according to law.
Since then, the purchasing news in the circle of friends has been significantly reduced. Last March, the data of Japan Department Store Association showed that since June 5438+ 10, the duty-free sales of Japanese department stores have decreased by 7.7% compared with the same period of last year, which is the first decline in more than two years, causing concern in the Japanese industry. In addition, the average consumption per consumer decreased by 8.4% to 63,000 yen, or about 567 US dollars. The staff of a store in Ginza, Tokyo, said that the sales of luxury handbags and clothing were particularly weak.
At the same time, the practice of luxury brands to narrow the global price difference has further squeezed the profit margin of purchasing. You should know that luxury goods and cosmetics are the main categories of purchasing. Due to the long-term differences in prices and styles between the mainland and overseas, many domestic consumers are accustomed to seeking overseas purchasing. Buyers take advantage of the price difference to make a profit. In order to save costs, they usually evade tariffs through various channels, among which tax avoidance on the grounds that products for their own use do not need to be declared is the most common method.
According to the Financial Times, the premium of European luxury goods in China has shrunk by 25% as early as in, which has become an important trend to promote domestic luxury consumption. According to a survey of nearly 2,000 luxury goods prices by consulting firm Deloitte, this price difference has narrowed.
In, China suddenly began to reduce the value-added tax rate of some kinds of products, covering consumer goods, clothing and so on. Among them, the import tariffs on clothing, shoes and hats were reduced by 5 1%, the import tariffs on cosmetics were also adjusted by about 48%, and the tariffs on watches, glasses and jewelry were reduced by 13.9% respectively.
Since April last year, 1, the original applicable tax rate 16% has been further lowered to 13%, and the corresponding cross-border value-added tax has also been lowered simultaneously. Since there is no intermediate link in cross-border retail import, VAT is levied on the basis of retail price. After the news came out, Louis Vuitton became the first luxury brand to respond to this policy, and quietly came.
After careful observation, we can find that the reduction of VAT rate, the promotion of domestic free trade ports, the opening of duty-free shops and the relaxation of per capita shopping quota are all measures to further relocate overseas shopping to China, cultivate the luxury consumption market in the mainland, and thus drive the overall consumption economy.
It is worth noting that Wangfujing recently obtained the business qualification of duty-free commodities, becoming the eighth enterprise in China with duty-free license after China, Japanese, Shanghai, Zhuhai, Shenzhen, China and overseas Chinese were duty-free. A person familiar with the matter said that although BTG and Wangfujing have not disclosed the scope and plans of their duty-free goods business in detail, it is predicted that the company may use its foundation in the commercial field to combine the duty-free format with existing commercial facilities.
JD .COM International is also interested in getting involved in duty-free business. In the near future, it is planned to lay out Hainan Free Trade Port, develop cross-border retail import business, or open offline duty-free shops or experience stores in JD.COM International. Some analysts pointed out that there is no duty-free license in JD.COM at present, but under the bonus of Hainan Free Trade Port policy, duty-free business can increase new value-added business channels for enterprises, and the increase in the consumption quota of tourists from outlying islands can also stimulate commodity sales to some extent.
To be sure, the rise of the revised regulations and duty-free business in China has undoubtedly given luxury brands a shot in the arm in the China market.
At present, most brands are facing a sharp decline in the number of tourists from Europe, America and China. This group is more sensitive to price factors than ordinary consumers, and domestic duty-free shops may become new destinations for China tourists who cannot spend abroad. According to public information, in 2008, the amount of outbound tourists from China in consumption abroad reached US$ 277.3 billion, of which shopping consumption exceeded US$ 65.438+065.438+000 billion, and tax-free channels accounted for 37%.
Bain, a global consulting firm, emphasized in an earlier report that the four main growth drivers of China's luxury goods market are millennial consumers, the growth of local luxury consumption, digital strategy and the rapidly growing middle class. With the reduction of China's tax rate and the adjustment of global luxury price difference, the consumption of luxury goods in China and abroad will be flat in 2025, which means that brands should focus on developing the China market.
Bain analysts ClaudiaD'Arpizio and FedericaLevato said that the annual sales of the luxury goods industry increased by 7% year-on-year to 28 1 billion euros, and the growth rate will be between 3% and 5% by 2025. Although the sales in the first quarter of this year decreased by 25% to 30% due to the epidemic, they predicted that the market would resume growth in 20021year, driven by China market, digitalization and generation Y and X. ..