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Beijing considers more cut in export rebates
By Wang Yanlin |
January 24, 2011, Monday
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Online Edition
Online Edition
CHINA is weighing another cut in tax rebates for some highly-polluting and energy-consuming exports in a bid to discourage production of resource-intensive goods.
The plan is still under review, according to today's Economic Information Daily, owned by Xinhua News Agency.
"The National Development and Reform Commission, the Ministry of Finance and Ministry of Commerce are reviewing tax rebates for a list of goods, including rubber, non-ferrous metals, steel and construction materials," the newspaper said, citing unnamed sources who are familiar with the process.
It said the rebate reduction won't be drastic, but manufacturers of steel, construction materials and additives will see larger cuts in rebates compared to those in other industries.
China provides tax rebates to exporters, a practice in line with international norm to avoid double taxation. Last year China already cut rebates for exports including rubber, steel and non-ferrous metals.
"It is a trend for policymakers to cut and eventually scrap refund for polluting and energy-intensive exports," said Ma Zhong, a professor with the School of Environment and Natural Resources at Beijing Renmin University. "It is unreasonable to produce exports at the cost of our own environment."
The plan is still under review, according to today's Economic Information Daily, owned by Xinhua News Agency.
"The National Development and Reform Commission, the Ministry of Finance and Ministry of Commerce are reviewing tax rebates for a list of goods, including rubber, non-ferrous metals, steel and construction materials," the newspaper said, citing unnamed sources who are familiar with the process.
It said the rebate reduction won't be drastic, but manufacturers of steel, construction materials and additives will see larger cuts in rebates compared to those in other industries.
China provides tax rebates to exporters, a practice in line with international norm to avoid double taxation. Last year China already cut rebates for exports including rubber, steel and non-ferrous metals.
"It is a trend for policymakers to cut and eventually scrap refund for polluting and energy-intensive exports," said Ma Zhong, a professor with the School of Environment and Natural Resources at Beijing Renmin University. "It is unreasonable to produce exports at the cost of our own environment."
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