China's export tax rebate for some products will be lowered

[China Glass Network] It is learned that the Ministry of Finance is planning to reduce the export tax rebate for some commodities. Among them, the export tax rebate rate for some aluminum profiles will be reduced from the current 13% to 9%, stainless steel bars, rods, models, silk and other commodities. The export tax rebate may be cancelled, and the current tax rebate rate for such goods is 5%.
A steel industry insider said that since last year, the government has restricted the export of "two high and one capital" products. From July 15, 2010, the original 9% export tax rebate for hot rolled, medium and heavy plate, hot and cold narrow strip and section steel was cancelled. At present, some special alloy steel products can still enjoy tax rebates. For example, a considerable amount of boron-added steel enjoys a 5% export tax rebate policy. In previous rumors, boron-added steel was also listed as a category that canceled the tax rebate. However, according to sources, the relevant departments believe that there is a problem of definition, so the addition of boron steel may not be within the scope of this tax refund adjustment.
In the case of non-ferrous metals, the export tax rebate for some aluminum products will be reduced from the current 13% to 9%. In April 2009, the export tax rebate for aluminum profiles recovered from “0” to 13%. In just two years, the re-adjustment of the tax rebate rate will undoubtedly make the industry feel unprepared.
"The United States, Canada, Australia, and Turkey have taken double-reaction measures against China's aluminum profiles last year. The company just hopes to open up other emerging markets. Once the tax rebate rate is lowered, it will inevitably have an impact on market development." An aluminum manufacturer believes that tax rebates The downward adjustment will inevitably weaken the competitiveness of domestic aluminum in the international market.
The industry expects that the reduction of export tax rebate for aluminum profiles may become a breakthrough for other non-ferrous metal materials tax rebate adjustment. In the future, aluminum foil strips with a 13% tax rebate rate will enjoy the aluminum foil with a 15% tax rebate rate.

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