Effective Date: December 1, 2024
Issuing Authorities: Ministry of Finance (MOF) and State Administration of Taxation (SAT)
China has revised its export tax refund policies to align with national economic and environmental priorities. The adjustments include:
Cancellations of Refunds in China
Export VAT refunds for products such as aluminium, copper, and specific oils have been discontinued to streamline China's tax regime.
Reduced Refund Rates in China
Refund rates for refined oil, photovoltaic products, batteries, and non-metallic minerals have been reduced from 13% to 9%, reflecting China's commitment to resource optimisation.
Policy Goals in China
These changes aim to encourage industrial efficiency, reduce reliance on resource-heavy exports, and align with China's sustainability goals.
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