Australian suppliers set for China FTA tax cuts

摘要

AUSTRALIAN COAL IS on the cusp of becoming more competitive into China, thanks to cuts in import taxes when the China-Australia Free Trade Agreement (ChAFTA) comes into effect on 20 December.China will remove its 3% import duty on Australian coking coal. It will also trim its 6% rate on bituminous coal to 4% initially, and then to 2% just 12 days later on 1 January, before fully removing the levy on 1 January 2017. The current 5% charge on Australian imports classed as other coal and briquettes will also end on 20 December.