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Notice on the adjustment of China's steel products export tax rebates

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Notice on the adjustment of China's steel products export tax rebates

May 1,2021
Notice on the adjustment of export tax rebates
Dear customers:

       According to national adjustments, we will make new export quotation adjustments from today. For specific policies, please refer to the national notice below.
   According to the "Notice of the State Administration of Taxation on Issuing the Export Tax Rebate Rate Library 2021B Edition" (Shui Zonghan [2021] No. 77) and the adjustment of the customs commodity code by the General Administration of Customs, the State Administration of Taxation has compiled the 2021B export tax rebate rate library.

  Note: Export companies need to update the tax rebate rate database in a timely manner in accordance with the requirements of the local tax authority.

  In order to better guarantee the supply of steel resources and promote the high-quality development of the steel industry, with the approval of the State Council, the Tariff Commission of the State Council recently issued an announcement that from May 1, 2021, tariffs and export tax rebates for certain steel products will be adjusted:

   ●Pig iron, crude steel, recycled iron and steel raw materials, ferrochrome and other products are subject to zero import tentative tax rates;

   ●Appropriately increase the export tariffs of ferrosilicon, ferrochrome, high-purity pig iron and other products, and implement the export tax rate of 25%, the temporary export tax rate of 20%, and the temporary export tax rate of 15% after the adjustment;

  ●Cancellation of export tax rebates for some steel products, defined by the export date indicated on the export goods declaration form.

   The above adjustment measures are conducive to reducing import costs, expanding imports of steel resources, supporting domestic reduction in crude steel production, guiding the steel industry to reduce total energy consumption, and promoting the transformation and upgrading of the steel industry and high-quality development.

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