ANNOUNCEMENT 31 Dec 2014
Effective from January 2015, the Chinese government removed an export incentive for boron steel. In the same announcement, rebates for a selection of other products were increased.
NUMBER OF INTERVENTIONS
Ministry of Finance of the PRC, 31 December 2014. (关于调整部分产品出口退税率的通知)
From the 1st of January 2015, the export VAT rebates for boron steel in China were abolished by the State Ministry of Finance in Notice No150/2014. Amongst other export VAT adjustments, the Ministry of Finance announced a removal of the rebates for boron steel. Previously, the rebates stood at either 13 or 9%, depending on the particular product.
In the same announcement, the export VAT rebate rates for several other products were raised - see taxonomy section for specifics. The changes focus on 'high value-added products, processed corn products, textiles and garments'.
N.B.: The changes to processed corn products were not officially enacted with this release, being subsequently put into effect through another announcement (see related State Act).