Recently, Taiwan and China have agreed to continue discussions on goods tariff reductions within their economic cooperation framework agreement (ECFA), despite the long-running dispute over the cross-strait agreement for trade in services that was signed in June last year. The ECFA will effect at the beginning of 2011, and implemented a three-year program of import duty reductions up to January 1, 2013, reducing the tariffs on all of its listed items to zero. In total, the tariff cuts involved a total of 539 items exported from Taiwan to China, while 267 Chinese products imported into Taiwan were also included in the agreement.
China: VAT rates reformed
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