It will definitely be cheaper to buy watches in Switzerland. The taxes levied on Swiss watches sold in China include import tax 1 1% and value-added tax 17%, and luxury consumption tax of 20% is also levied on watches over 10,000 yuan. Comparatively speaking, the tax rates of value-added tax and consumption tax are higher than customs duties.

The Customs specially reminds residents and passengers entering the country to bring articles for their own use with a total value of less than 5,000 yuan (including 5,000 yuan) obtained from abroad, and the customs will release them duty-free. A single variety is limited to self-use and reasonable quantity, but tobacco products, alcoholic products and 20 kinds of commodities that should be taxed according to state regulations shall be handled separately. It is illegal for individuals who evade customs supervision and tax evasion to conduct Haitao and purchasing activities.

China's luxury goods market currently has the highest tax rate in the world. A set of data released by Jian Yao at the press conference shows that the prices of high-end consumer goods of 20 brands in five categories, such as watches, bags, clothes, wine and electronics, are about 45% higher than those in Hong Kong, 5 1% higher than those in the United States and 72% higher than those in France.

Extended data:

1994, China began to levy consumption tax on cigarettes, alcohol, cosmetics, skin care products, precious jewels and jade, firecrackers and fireworks, gasoline, diesel oil, automobile tires, motorcycles and automobiles.

In 2006? The Ministry of Finance of People's Republic of China (PRC) and State Taxation Administration of The People's Republic of China jointly issued a notice to adjust the consumption tax system from April 1 2006, cancel the tax item of "skin care products" and adjust the tax rates of some taxable consumer goods such as liquor, automobiles, motorcycles and automobile tires;

Tax items such as golf balls and equipment, high-grade watches, yachts, wooden disposable chopsticks and solid wood floors have been added. Refined oil tax item, the original gasoline and diesel tax items are two subheadings of this tax item, and five subheadings of naphtha, solvent oil, lubricating oil, fuel oil and aviation kerosene are added at the same time. This is the biggest adjustment of consumption tax since the tax reform of 1994.

Detailed explanation of People's Daily Online-China-Sweden Free Trade Agreement: 10 Swiss watch tariff dropped by 60%.

Baidu encyclopedia-luxury tax