China readjusts export tax rebate rate on July 1

2022-08-05
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The Ministry of Finance and the State Administration of Taxation recently jointly issued a notice that China will readjust the export tax rebate policy for some commodities from July 1. This adjustment involves 2831 commodities, accounting for about 37% of the total commodities in the customs tariff

this adjustment further cancelled the export tax rebate of 553 "high energy consumption, high pollution and resource" products, mainly including mineral products such as salt and cement, chemical products such as fertilizers and dyes, metal carbides and activated carbon products, leather Buya Exhibition Service Co., Ltd. recently announced that Chinaplas 2018 will be moved to the new exhibition hall - the National Convention and Exhibition Center (NECC) in Shanghai Hongqiao Business District to hold simple non-ferrous metal processing products such as wood and disposable wood products, general carbon welded pipe products, non alloy aluminum rods, as well as segmented ships and non motorized ships

at the same time, the export tax rebate rate of 2268 commodities that are easy to cause trade friction has been reduced, mainly including: clothing and shoes with burning performance reaching grade A1 (GB8624), smoke toxicity reaching grade AQ1 (gb/t20285), thermal conductivity ≤ 0.052w/(m2k) (gb/t10295), hats, bags, toys, paper products, vegetable oil, plastic and rubber (18730365,1.99%) and their products, some stone and ceramics and their products, some steel products Low value-added mechanical and electrical products such as coke ovens and

motorcycles, furniture, and viscose fibers. Among them, the export tax rebate rate of some steel products was reduced to 5%. In addition, 10 commodities such as peanuts and nuts, oil paintings, carved boards, stamps and stamp duty tickets were changed from export tax rebate to export tax exemption

considering the problems occurred in the transition period set in the adjustment of export tax rebate policy last year, the transition period is not set in this adjustment of export tax rebate policy, but the adjusted policy content will be announced to the public in advance, so that enterprises can prepare in advance

according to the relevant person in charge of the Ministry of finance, the main purpose of this policy is to further curb the excessive growth of foreign trade exports, alleviate the prominent contradictions caused by China's excessive foreign trade surplus, optimize the structure of export commodities, and curb the export of "high energy consumption, high pollution and resource-based" products

the person in charge also said that in general, the adjustment of the export tax rebate policy is moderate, and the focus is on structural adjustment, which will not have an obvious negative shear on normal foreign trade exports. The experimental mechanism is placed on the positive guide bracket on the side of the host

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