Foreign wine, domestic wine compete for market share
In recent years, imported wine has become more and more popular in Ningbo, which is reflected in the import volume of wine in Ningbo.
Figures show that total volume of wine imported in 2009 is 2.2 million liters, valued at US$ 7.3 million. While this year, import wine of the first two months has reached 1 million liters, valued at US$3.5 million, equal to half of that of last year.
According to the customs, not only volume, but also variety of imported wine has increased. There are both high-end brands and mass-market brands. At the wine trading center in tariff-free zone, half of the wine from Chile, South Africa and Australia are sold within 100 yuan. Even some high-end wine producing countries, such as France and Italy, have lowered their prices. Favorable policy is also a reason behind the increase in imported wine, such as setting up a wine trading center in tariff-free zone, a green Channel for wine clearance and a storehouse for import wine.
Li Pengcheng, a customs officer, said the dealers can pay tax after they sell the wine. In this way, companies can improve their cash flow.
Usually importers have to pay tax immediately, no matter they find buys or not.
Source: http://english.ningbo.gov.cn/art/2010/4/8/art_81_312389.html