China Adjusts Export Tax Rebate Policies for Aluminum and Other Products

• China’s Ministry of Finance and the State Taxation Administration released guidance on November 15, 2024, adjusting export tax rebate policies for aluminum and other products
• New policies effective from December 1, rebate rates based on export dates on customs declarations
• Export tax rebate is a policy to support exporters by refunding VAT and consumption taxes paid during production and distribution
• Key changes include elimination of export tax refunds for aluminum, copper, and certain oils, and reduction of rebate rates for some oils, photovoltaic products, batteries, and non-metallic mineral products from 13% to 9%
• Chinese government aims to regulate these products for environmental sustainability
• Reduction in tax rebates may increase export costs and decrease export volumes
• Tax authorities require strict documentation for rebate claims, impacting enterprises that must comply and provide thorough documentation for rebate applications

Source: bdo.global

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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