 |
China to close export tax rebate loophole for aluminium products next year
China will amend its aluminium product export tax classification system next year to protect the interests of high value-added fabricators by closing a loophole that allows non-standard aluminum products to enjoy preferential export policies, a senior official with the China Nonferrous Metals Industry Association (CNMIA) said on April 28, 2008.
“We are currently studying the classification criteria for different aluminium products, and will release an amended classification system next year. But for the present, China Customs will assist in blocking non-standard aluminum product exports from enjoying preferential tax rebate policies,” Wen Xianjun, vice chairman of the CNMIA, said.
Wen also noted that individual aluminium extruding companies in southern China’s Guangdong Province have recently held meetings with the CNMIA, in which they proposed the establishment of a monitoring system to better regulate the country’s aluminum fabrication industry and called for a clearer distinction to be made between standard and non-standard aluminium products.
“However, the CNMIA hopes that there will not be any further restrictive export tax policies on high value-added aluminium products this year,” Wen said.
It was previously rumored that China would scrap the current 13 percent export tax rebate on standard aluminum tube in June this year.
The government is expected to release further policies restraining aluminium product exports this year, in order to both curb the country’s huge trade surplus and cool overheated investment in the aluminum fabrication sector.
2008-08-05 11:29 |
|
