[av_heading heading=’China to fulfill pledge to eliminate import tax on Australian thermal coal: Canberra’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’1′ color=” custom_font=”][/av_heading]
[av_textblock size=” font_color=” color=”]
19 December 2016
[/av_textblock]
[av_hr class=’custom’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’1px’ custom_margin_bottom=’1px’ icon_select=’yes’ custom_icon_color=” icon=’ue811′ font=’entypo-fontello’]
[av_textblock size=” font_color=” color=”]
Australian thermal coal cargoes arriving at China’s ports on January 1, 2017, and thereafter will be clear of the Asian country’s 2% import tax, currently equivalent to $1.50/mt, and levied on the delivered CFR South China price of shipments, said the Australian government Thursday.
Beijing introduced a 6% tax on all thermal coal imports with little advance warning in October 2014, and went on to lower its rate on Australian-origin thermal coal to 4% in December 2015, and then to 2% effective January 1, 2016.
“Under China-Australia Free Trade Agreement (ChAFTA) commitments, this tariff is scheduled to be fully eliminated (cut to 0%) for Australian-origin thermal coal on January 1, 2017,” said a spokeswoman for the Australian government’s department of foreign affairs and trade.
“Prior to the China-Australia Free Trade Agreement coming into force, China’s general import tariff for [thermal coal] was 6%. Under ChAFTA commitments, this rate has already been reduced twice for Australian-origin thermal coal, to now sit at 2%,” said the department of foreign affairs and trade.
Source – Platts
[/av_textblock]
[av_social_share title=’Share this entry’ style=” buttons=”]
[av_comments_list]