Semi-finished Aluminum Products Tax Rebates May Drop to 9%

[China Aluminum Network] August 5, According to authoritative source, aluminum export is facing various challenges and tax rebates for semi-finished products may decline from current 13% to 9%.
 
Jia Mingxing, Secretary-general of China Nonferrous Metals Industry Association, declares that they are studying tax rebate regulation for semi-finished aluminum without handing in any schemes. This time, the tax rebate won’t wholly be cancelled but only regulating its current rate probably from 13% to 9%.

Chinese exported unwrought aluminum (aluminum alloy) and aluminum profiles reach 349,000 tons dropping by 0.4% over the same period last year. Aluminum material exportation reaches 1,520,000 tons up by 47.9%. Some insiders say that electrolytic aluminum exportation needs 5% tax rebate in our country, enterprises can enjoy tax refund preference once products processed thus making many of them export processed electrolytic aluminum.

Owing to low price of electrolytic aluminum in the first five months this year, aluminum smelting enterprises gain profit of 5.2 billion Yuan decreasing by 23.6% in the corresponding period previous year.

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