Cut in selective tax rebates under review
By Wang Yanlin |
January 25, 2011, Tuesday
|
Print Edition
Print Edition
CHINA is looking to reduce tax rebates for some highly-polluting and energy-consuming exports as it tries to discourage production and export of such products.
The plan is still under review, the Economic Information Daily said yesterday.
"The National Development and Reform Commission, the Ministry of Finance and the Ministry of Commerce are considering to cut tax rebates for a list of goods, including rubber, nonferrous metals, steel and construction materials," the newspaper said, citing unnamed sources who are familiar with the process.
The newspaper said there won't be a drastic overall reduction but goods in the steel, construction materials and additives sector will have a larger cut in their rebates than other industries.
China provides tax rebate to exporters. It refunds part of the value-added tax that companies pay to the government - a policy in line with international norms to avoid dual taxation. In June, China cut the rebate for exports, including rubber, steel and nonferrous metals.
"It is a trend for policy makers to cut, and finally, eliminate rebates for highly-polluting and energy-consuming exports," said Ma Zhong, a professor at the School of Environment and Natural Resources at Renmin University. "It is unreasonable to produce exports at the cost of our own environment."
At the height of the global financial crisis in 2008 and 2009, China raised rebates for exporters eight times to counter weak overseas demand.
The plan is still under review, the Economic Information Daily said yesterday.
"The National Development and Reform Commission, the Ministry of Finance and the Ministry of Commerce are considering to cut tax rebates for a list of goods, including rubber, nonferrous metals, steel and construction materials," the newspaper said, citing unnamed sources who are familiar with the process.
The newspaper said there won't be a drastic overall reduction but goods in the steel, construction materials and additives sector will have a larger cut in their rebates than other industries.
China provides tax rebate to exporters. It refunds part of the value-added tax that companies pay to the government - a policy in line with international norms to avoid dual taxation. In June, China cut the rebate for exports, including rubber, steel and nonferrous metals.
"It is a trend for policy makers to cut, and finally, eliminate rebates for highly-polluting and energy-consuming exports," said Ma Zhong, a professor at the School of Environment and Natural Resources at Renmin University. "It is unreasonable to produce exports at the cost of our own environment."
At the height of the global financial crisis in 2008 and 2009, China raised rebates for exporters eight times to counter weak overseas demand.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
