1.What is the tax rate for jewelry in 2020?
According to the Provisional Regulations of People's Republic of China (PRC) on Consumption Tax (the State Council Order No.539 of the People's Republic of China): "The consumption tax rate of gold and silver jewelry, platinum jewelry and diamonds and diamond jewelry is 5%; The consumption tax rate of other precious jewelry, jewelry and jade is 10%. "
1, gold and silver jewelry, platinum jewelry and diamonds and diamond jewelry 5%
2. Other precious jewelry and jewelry jade 10%
Consumption tax is not levied on jewelry and jadeite retail, but value-added tax is levied on production, and the tax rate is 10%. However, gold and silver and gold-based and silver-based alloy jewelry, as well as gold and silver and gold-based and silver-based alloy inlaid jewelry, including diamonds and diamond jewelry, are subject to consumption tax at the retail level, and the tax rate is 5%.
Second, what is consumption tax?
Consumption tax (consumption tax) (special goods and services tax) is the general name of all kinds of taxes with the turnover of consumer goods as the tax object. It is a tax levied by the government on consumer goods, which can be levied on wholesalers or retailers. Consumption tax is a typical indirect tax. Consumption tax is a newly set tax in turnover tax in 1994 tax system reform. Consumption tax is an in-price tax, which is only paid in the production, entrusted processing and import of taxable consumer goods. In the future, because the price includes consumption tax, there is no need to pay consumption tax, and the tax will ultimately be borne by consumers. Taxpayers of consumption tax are units and individuals that produce, entrust, retail and import taxable consumer goods stipulated in the Provisional Regulations of People's Republic of China (PRC) on Consumption Tax.