[China Glass Network] A person close to the Ministry of Finance revealed to reporters that the Ministry of Finance is planning to reduce the export tax rebate for some commodities, with a focus on some aluminum products, stainless steel strips and other resource products. At the same time, for large-scale and intensive operations, the Ministry of Finance will provide partial tax support in the purchase and sale of bulk raw materials, and it is expected that there will be some action in June and July.
As soon as the news came out, it caused great concern in the industry. According to industry experts, in recent years, non-ferrous and other resource processing enterprises are generally suffering from the adverse effects of the lack of international discourse power. Therefore, one of the purposes of the above-mentioned policies is to improve the concentration of the industry and improve through certain fiscal and taxation policies. The resource industry is currently in this passive situation.
“Because the long-term non-ferrous metal industry chain and complicated process, it has to go through multiple processes such as mining, selection, metallurgy and processing, so it has become the focus of this policy regulation as a high-energy industry.†The person said that in the non-ferrous metals industry, The aluminum industry is also recognized as a high-energy-consuming field. Therefore, the focus of this adjustment will be on related products such as aluminum, which have high energy consumption and are scattered and scattered in the industry. At the same time, an official in the industrial field told reporters that the adjustment of the Ministry of Finance may not include lead or zinc. What he saw was the adjustment of the tax rebate for non-ferrous materials such as aluminum, nickel and titanium.
It is reported that the Ministry of Finance will reduce the export tax rebate rate for some aluminum profiles from the current 13% to 9%, and the export tax rebates for stainless steel bars, rods, models and silks may be cancelled. The tax rebate rate is 5%. To this end, industry insiders expect that aluminum sheet strips and aluminum foils, which currently enjoy 13% and 15% rebate rates, are likely to follow the lead of aluminum profiles, and such adjustments have a greater impact on aluminum processing enterprises.
The industry does not hinder the company from being affected
If the export tax rebate rate of aluminum extrusions really drops from 13% to 9%, the aluminum profile with a value of 1 million yuan is equivalent to less than 40,000 yuan. Someone gave the reporter an account, the value-added tax of 17%, the original tax rebate rate of 13%, about 110,000 yuan of tax rebate, but now may only be more than 70,000 yuan.
"And this reduction of 40,000 yuan is quite terrible for some companies." As a domestic aluminum industry leader, China Aluminum Corporation's aluminum processing department told reporters that the current general aluminum processing industry's profit is also a ton If it is about one to two thousand yuan, if the export tax rebate rate of aluminum extrusion materials is really reduced by 4 percentage points, there will be no profit for enterprise exports.
"But from the industry point of view, even if the export of aluminum materials is all domestically sold, China is also capable of digesting these stocks." Ma Shiguang, executive vice president and secretary general of China Nonferrous Metals Processing Industry Association, told reporters that China Aluminum in 2010 The number of materials reported was 20.26 million tons, and the export volume only accounted for 10%, about 2 million tons. However, the annual consumption of domestic aluminum prices for processing materials is about 30%, and this increase is far greater than the export volume.
"The policy that the Ministry of Finance is about to introduce may have seen this." The relevant person said, "The Ministry of Finance started relevant research in the fourth quarter of last year. The main idea is to pass the tax policy's 'guaranteed pressure'. Promote the integration of resource industries such as the non-ferrous metals industry."
He further explained that on the one hand, by reducing the export tax rebate, the relevant industry budget cycle was lengthened, which led to an increase in the gap between some small enterprises and intensive enterprises. On this basis, we will introduce corresponding fiscal and taxation policies to support large enterprises in the industry, accelerate the growth of these advantageous enterprises, and vigorously promote industry integration.
However, relevant people have put forward different opinions, arguing that this move can not effectively promote the pace of industry restructuring, because the aluminum processing industry in addition to Chinalco, some local state-owned enterprises, and even private enterprises are large. Such as Shandong Southeast Mountain, Liaoning Zhongwang, Xingfa, Feng Aluminum, Jianmei, Mingtai, Xia Shun, Chang Aluminum, etc. have all entered the top 10 of this profession, and Chinalco's processing capacity only accounts for a small part of the entire market. Therefore, to reduce export tax rebates and export losses, they are able to convince local authorities to give relevant policies and financing convenience. As a central enterprise, Chinalco's aluminum processing sector also has a small market share.
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