China Ends Platinum Import VAT Exemption, Imposes 13% Tax Starting November 1

• China will remove its VAT exemption on platinum imports starting November 1.
• Since 2003, only the China Platinum Company (CPC) could import platinum VAT-free.
• The new policy imposes a 13% VAT on all platinum imports, ending the two-tiered system.
• Platinum trading in China is highly structured, with most imports handled by the CPC and routed through the Shanghai Gold Exchange.
• The change creates a single-tiered system for the local platinum market.

Source: miningweekly.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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