Lido no Swissinfo:
The biggest relief would be felt in a reduction of duties for Swiss exported goods to China. The Swiss watch industry, in particular, currently faces a hefty bill for sending timepieces to one of its most lucrative markets.
Some 12.5 per cent of Swiss watch exports, with a value of around SFr700 million, ended up in China last year. But manufacturers were saddled with unusually high taxes of an average 15 per cent base duty and an additional 20 per cent luxury tax for high-end products.
“Altogether this is a high tax in global comparison,” Jean-Daniel Pasche, president of the Federation of the Swiss Watch Industry, told swissinfo.ch. “We hope and expect the FTA to reduce taxes.”
Some 12.5 per cent of Swiss watch exports, with a value of around SFr700 million, ended up in China last year. But manufacturers were saddled with unusually high taxes of an average 15 per cent base duty and an additional 20 per cent luxury tax for high-end products.
“Altogether this is a high tax in global comparison,” Jean-Daniel Pasche, president of the Federation of the Swiss Watch Industry, told swissinfo.ch. “We hope and expect the FTA to reduce taxes.”
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