According to reports, the "Notice of the Ministry of Finance and the State Administration of Taxation on Increasing the VAT Refund Rate for Product-involved Products such as Labor-Intensive Products" to be implemented starting on December 1 specified 3,770 specific items for increasing the export tax rebate rate. Among them, the tax refund rate for some rubber products such as tires will be increased from the current 5% to 9%, including vulcanized rubber cords and ropes, other sanitary and medical rubber products, and other rubber/plastic bottom and surface ski boots, rubber, and plastics. The export rebate rate for products such as sports shoes and boots at the bottom and in the face has been raised to 13%.
Sun Shubao, secretary-general of the China Pesticide Industry Association, said in an interview with reporters that raising the export tax rebate rate involves more than 20 kinds of products in the pesticide industry. Excluding products listed in the “double high†category, almost all are included. . The reporter saw in the list of commodities that the tax refund rates for chlorantrifos, chlorophosphorus, glyphosate, etc. will be increased from the current 5% to 9%; the tax refund rate for trichloro insecticidal esters, extermination, and terouyl esters will be The current 5% increase to 13%. Sun Shubao said that from this large-scale upward adjustment of the export tax rebate rate of pesticide products can be seen, the national purpose is to encourage the production of supporting agriculture industry, balance the shortage of pesticide products during the busy season, the pesticide industry can maintain normal production, the subsequent arrival of the pharmaceutical peak will Play an active role in safeguarding supply.
In addition, in the list of 3770 items for raising the export tax rebate rate, some chemical products involved include toluene, other shampoos, and toothpaste, etc. The adjusted tax rate is 9%; poly(methylene phenylisocyanate) (polymeric MDI or Coarse MDI, triacontanol, etc., adjusted tax rate is 13%.
It is understood that the increase in export tax rebate rate, coverage and intensity are more than the first two times, 3770 items accounted for about 27.9% of all export commodities. This adjustment shows that under macroeconomic pressures, the government has “relaxed†labor-intensive products.
Industry analysts believe that this adjustment will benefit the chemical industry. However, at the same time, it is stated that the strength of an industry’s core competitiveness is ultimately not determined by tax policies. Enterprises must improve their ability to innovate.
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