Recently, with the approval of the State Council, the Ministry of Finance and the State Administration of Taxation issued the "Notice on Stopping the Implementation of Tax Policies Concerning Export-Specific Steel for Processing Exports". From July 1 this year, the current "Special Steel for Processing Exports" will be cancelled. The tax policy is to impose a value-added tax on the domestically produced steel products that are sold to domestic processing and exporting enterprises for the production of export products, and to issue special invoices for value-added tax, and no longer apply for exemption or tax deduction.
Two months ago, the State Administration of Taxation informed that since May 1 this year, the export tax rebate for steel has dropped from 13% to 11%. The change from "down" to "cancellation" marks the target for steel products. The introduction of another macro-control policy is also doomed to continue the seven-year "production-oriented" policy will bid farewell to the historical stage, and then retreat from the rivers and lakes.
At the same time, the industry said that this economic leverage adjustment will not only reduce the profit of the steel industry in the short term, but also mean that the unequal competition in the domestic steel market will reappear.
Encouraging fair competition in 17% processing trade is a way of buying and selling that combines processing and expanding exports or receiving remuneration. Among them are two methods of processing and feeding. The former is to process the raw materials and auxiliary materials provided by many importers of the other party into finished products according to the requirements of the other party, and hand them over to the other party for processing fees; the latter processes the imported raw materials into finished products and sells them abroad. Processing trade is a way to combine domestic production and processing capacity with foreign resources and expand exports.
In 1998, due to the impact of Asian financial turmoil, China's economy faced great difficulties, and the steel industry lacked demand. In the development of processing trade, there was an unequal competition between state-owned enterprises and foreign-funded enterprises. Processing trade enterprises have always used imported steel products, mainly imported by means of incoming materials and feed processing, and implemented tax exemption or retreat. However, domestic steel products entering the processing trade market are subject to a 17% VAT, which does not compete fairly with imported steel, and restricts the domestic steel into the processing trade. This year, the state encourages processing trade enterprises to use domestic steel to solve the problem with imported steel. The issue of inequality in taxation policy, which has been discussed and studied by the State Council, has specifically formulated the policy of “promoting production by industryâ€. That is to say, the approved listed steel enterprises will sell the special steel for processing and export to the processing and export enterprises for processing and exporting products at the price without tax, and implement a full refund of 17% VAT (later changed to exemption). From 1999 to 2001, the State Economic and Trade Commission, the Ministry of Finance, the State Administration of Taxation, and the General Administration of Customs jointly issued a series of rules to gradually improve this policy.
The seven-year history is mixed. When China's iron and steel enterprises successfully entered the processing trade market, the replacement of domestic steel imports showed an increasing trend year by year. Since 1999, domestic steel has entered the processing trade market to replace more than 30 million tons of imported steel. Among them, more than 20 million tons of tax-free indicators for processing special steel for processing and export were completed, accounting for 30% of the total steel consumption of processing export enterprises. From January to May 2005, the number of “specialized steel for processing and exporting†reached the highest level in history. 37 listed steel enterprises have completed the registration of special steel for processing and exporting 2,530,600 tons, which is 275,100 tons more than the same period of 2004, an increase of 13.86% year-on-year; cumulative shipments increased by 30.12%. This policy has played a positive role in accelerating the adjustment structure, improving product quality, improving international competitiveness and promoting the development of China's processing trade.
The implementation of the policy of "progressing by production" is not an easy task: domestically produced steel is delivered to the bonded area, and the customs and import customs formalities are handled in accordance with the customs administration regulations of the bonded area. The customs and other departments in the bonded area can follow the supervision and can "transfer the factory" and finally export. This turnover has increased the freight burden and cost of processing trade enterprises. In order to facilitate and promote the implementation of the policy of "processing special steel for export", the state has adjusted relevant policies. Domestically produced "special steel for processing and exporting" can no longer be transported to the bonded area. The steel produced by the listed enterprises can be directly sold to processing and exporting enterprises under special supervision. It is used to produce export products and enjoy the policy of refunding (after changing to VAT). As the document stipulates that the products processed by export enterprises using "special steel for processing and exporting" must be directly used for export, they must not be "transformed into processing"; while most of the export products of processing trade enterprises are completed through "transfer processing", thus limiting The sales scale of "special steel for processing and exporting" has been further expanded. The practice in the past few years has proved that in the processing trade enterprises, the production of many products can not be completed by one enterprise alone, and it can only be exported after several factories have "transformed factories". According to statistics, the export business after “transfer factory processing†currently accounts for more than half of the processing export trade. Only Shanghai, Jiangsu, Zhejiang and Guangdong have reached 5 million tons per year.
Breaking the pattern of equal competition, a researcher in the steel industry told reporters that according to the comprehensive price of steel of 4,500 yuan (excluding tax), assuming a gross profit margin of 15%, the special steel for processing and exporting per ton can be refunded by nearly 120 yuan, and if With a high value-added product variety, the tax refund may be higher.
In addition to the short-term profit impact, the reporter even raised some worries in the interview: When the equal competition pattern is broken, what new changes will domestic enterprises face?
The first is how to maintain the "national treatment" of equality. The policy of "processing special steel for export" is formulated in accordance with the tax exemption policy for processing and import processing of China's processing trade. Nowadays, the tax exemption policy for imported and imported steel products has not changed, and the policy of “processing steel for export†has been abolished, and the pattern of equal treatment of domestic steel and imported steel has been broken. If there is no policy support for "processing and exporting special steel", domestic steel must be levied with 17% VAT and sold to these processing trade enterprises, thus increasing costs. If the processing trade enterprises import steel from abroad, the price is high and the freight rate is high. This has a major impact on the processing trade enterprises, causing a heavy blow and seriously affecting the development of China's processing trade. The insiders pointed out that the policy of "processing special steel for exporting" has been abolished. In order to enjoy equal national treatment for state-owned enterprises and foreign companies, and to avoid giving China's own market to foreign companies, it is necessary to consider and cancel the import tax on incoming materials and processing methods. , the implementation of the non-return or the first retreat.
Second, the structure of steel export products may change quietly. The reporter learned that some enterprises have made it clear that after canceling 17% of the special steel policy for processing and exporting, they will prefer to export steel directly instead of selling the products to processing export enterprises in the domestic bonded area. To do things, directly enjoy 11% of the steel export tax rebate, without having to run more departments, after the implementation of the cumbersome procedures, waiting for 17% of the tax refund.
The authenticity of this information has not been confirmed by the international electrical network, for your reference only.
Two months ago, the State Administration of Taxation informed that since May 1 this year, the export tax rebate for steel has dropped from 13% to 11%. The change from "down" to "cancellation" marks the target for steel products. The introduction of another macro-control policy is also doomed to continue the seven-year "production-oriented" policy will bid farewell to the historical stage, and then retreat from the rivers and lakes.
At the same time, the industry said that this economic leverage adjustment will not only reduce the profit of the steel industry in the short term, but also mean that the unequal competition in the domestic steel market will reappear.
Encouraging fair competition in 17% processing trade is a way of buying and selling that combines processing and expanding exports or receiving remuneration. Among them are two methods of processing and feeding. The former is to process the raw materials and auxiliary materials provided by many importers of the other party into finished products according to the requirements of the other party, and hand them over to the other party for processing fees; the latter processes the imported raw materials into finished products and sells them abroad. Processing trade is a way to combine domestic production and processing capacity with foreign resources and expand exports.
In 1998, due to the impact of Asian financial turmoil, China's economy faced great difficulties, and the steel industry lacked demand. In the development of processing trade, there was an unequal competition between state-owned enterprises and foreign-funded enterprises. Processing trade enterprises have always used imported steel products, mainly imported by means of incoming materials and feed processing, and implemented tax exemption or retreat. However, domestic steel products entering the processing trade market are subject to a 17% VAT, which does not compete fairly with imported steel, and restricts the domestic steel into the processing trade. This year, the state encourages processing trade enterprises to use domestic steel to solve the problem with imported steel. The issue of inequality in taxation policy, which has been discussed and studied by the State Council, has specifically formulated the policy of “promoting production by industryâ€. That is to say, the approved listed steel enterprises will sell the special steel for processing and export to the processing and export enterprises for processing and exporting products at the price without tax, and implement a full refund of 17% VAT (later changed to exemption). From 1999 to 2001, the State Economic and Trade Commission, the Ministry of Finance, the State Administration of Taxation, and the General Administration of Customs jointly issued a series of rules to gradually improve this policy.
The seven-year history is mixed. When China's iron and steel enterprises successfully entered the processing trade market, the replacement of domestic steel imports showed an increasing trend year by year. Since 1999, domestic steel has entered the processing trade market to replace more than 30 million tons of imported steel. Among them, more than 20 million tons of tax-free indicators for processing special steel for processing and export were completed, accounting for 30% of the total steel consumption of processing export enterprises. From January to May 2005, the number of “specialized steel for processing and exporting†reached the highest level in history. 37 listed steel enterprises have completed the registration of special steel for processing and exporting 2,530,600 tons, which is 275,100 tons more than the same period of 2004, an increase of 13.86% year-on-year; cumulative shipments increased by 30.12%. This policy has played a positive role in accelerating the adjustment structure, improving product quality, improving international competitiveness and promoting the development of China's processing trade.
The implementation of the policy of "progressing by production" is not an easy task: domestically produced steel is delivered to the bonded area, and the customs and import customs formalities are handled in accordance with the customs administration regulations of the bonded area. The customs and other departments in the bonded area can follow the supervision and can "transfer the factory" and finally export. This turnover has increased the freight burden and cost of processing trade enterprises. In order to facilitate and promote the implementation of the policy of "processing special steel for export", the state has adjusted relevant policies. Domestically produced "special steel for processing and exporting" can no longer be transported to the bonded area. The steel produced by the listed enterprises can be directly sold to processing and exporting enterprises under special supervision. It is used to produce export products and enjoy the policy of refunding (after changing to VAT). As the document stipulates that the products processed by export enterprises using "special steel for processing and exporting" must be directly used for export, they must not be "transformed into processing"; while most of the export products of processing trade enterprises are completed through "transfer processing", thus limiting The sales scale of "special steel for processing and exporting" has been further expanded. The practice in the past few years has proved that in the processing trade enterprises, the production of many products can not be completed by one enterprise alone, and it can only be exported after several factories have "transformed factories". According to statistics, the export business after “transfer factory processing†currently accounts for more than half of the processing export trade. Only Shanghai, Jiangsu, Zhejiang and Guangdong have reached 5 million tons per year.
Breaking the pattern of equal competition, a researcher in the steel industry told reporters that according to the comprehensive price of steel of 4,500 yuan (excluding tax), assuming a gross profit margin of 15%, the special steel for processing and exporting per ton can be refunded by nearly 120 yuan, and if With a high value-added product variety, the tax refund may be higher.
In addition to the short-term profit impact, the reporter even raised some worries in the interview: When the equal competition pattern is broken, what new changes will domestic enterprises face?
The first is how to maintain the "national treatment" of equality. The policy of "processing special steel for export" is formulated in accordance with the tax exemption policy for processing and import processing of China's processing trade. Nowadays, the tax exemption policy for imported and imported steel products has not changed, and the policy of “processing steel for export†has been abolished, and the pattern of equal treatment of domestic steel and imported steel has been broken. If there is no policy support for "processing and exporting special steel", domestic steel must be levied with 17% VAT and sold to these processing trade enterprises, thus increasing costs. If the processing trade enterprises import steel from abroad, the price is high and the freight rate is high. This has a major impact on the processing trade enterprises, causing a heavy blow and seriously affecting the development of China's processing trade. The insiders pointed out that the policy of "processing special steel for exporting" has been abolished. In order to enjoy equal national treatment for state-owned enterprises and foreign companies, and to avoid giving China's own market to foreign companies, it is necessary to consider and cancel the import tax on incoming materials and processing methods. , the implementation of the non-return or the first retreat.
Second, the structure of steel export products may change quietly. The reporter learned that some enterprises have made it clear that after canceling 17% of the special steel policy for processing and exporting, they will prefer to export steel directly instead of selling the products to processing export enterprises in the domestic bonded area. To do things, directly enjoy 11% of the steel export tax rebate, without having to run more departments, after the implementation of the cumbersome procedures, waiting for 17% of the tax refund.
The authenticity of this information has not been confirmed by the international electrical network, for your reference only.
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