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The "Circular of the State Administration of Taxation of the Ministry of Finance on Reducing the Tax Refund Rates for Certain Commodities" issued on June 18 involved a total of 2,831 items, which accounted for about 37% of the total number of items in the customs tariff. Among them, 553 items of export tax rebates for "two high and one capital" products were specifically cancelled. In the adjustment list, oil and chemical products accounted for more than 500 kinds. About 300 kinds of petrochemical products were cancelled export tax rebates, including solvent oil, liquefied propane, liquefied butane, liquefied petroleum gas and other products; fertilizers (except for urea and diammonium hydrogen phosphate that have been tax-refunded); chlorine and dyes; leather Wait. In addition, more than 200 kinds of chemical products have reduced the export tax rebate rate. Many are chemical products that easily cause trade frictions, such as the export tax rebate rate for plastics, rubber and its products is reduced to 5%, and the export tax rebates for coke ovens and other products are reduced to 9%; other numbers The export tax rebate rate for unlisted chemical products was lowered to 5%.
The reporter also noticed that a number of petroleum and chemical products classified in the list of lowering export tax rebates last year were listed on the cancellation list this year, such as artificial leather and synthetic leather.
The Ministry of Finance stated that this measure is conducive to guiding enterprises to reduce the export of low-value-added, low-tech products. What is different from the past is that the adjustment of the export tax rebate policy did not set a transition period. Instead, the content of the adjusted policy was announced to the society in advance for a certain period of time so that the company could make preparations in advance.
It is understood that in September 2006, the Ministry of Finance issued the "Circular on Adjusting the Tax Refund Rates for Certain Products and Supplementing the Category of Prohibited Products for Processing Trade", and the export of products including more than 400 kinds of petroleum and chemical products was restricted. However, this measure did not block the export enthusiasm of "two high and one capital" products. Take chemical as an example. According to data provided by the China Petroleum and Chemical Industry Association, from January to April this year, the total export of chemical products reached 25.38882 million US dollars, an increase of 36.2% year-on-year. Among them, the total amount of fertilizer (physical quantity) exports reached USD 58.41 million, which was a year-on-year increase of 90%; the total amount of pesticide exports was US$ 45.186 million, which was a year-on-year increase of 12.8%; and the total amount of dye exports was US$ 357.79 million, which was a year-on-year increase of 24.9%.
Another batch of petrochemical products is no longer preferential
Starting from July 1, China will once again adjust its export tax rebate policy. Among the 2,831 products involved, petroleum and chemical products accounted for more than 500 kinds.