Return of VAT on Recycled Materials
[2009-04-01 09:09:21]
China will restore a value-added tax on domestic recycled materials, including scrap metals, effective from January 1, 2009, the Ministry of Finance said yesterday in a statement on its Website.
The restoration of the VAT, which is usually 17 percent in China, may raise scrap metal prices and make imported materials more competitive. Before the end of 2010, recyclers that meet certain criteria will have part of the VAT they pay refunded, the ministry said.
The restoration of the VAT, which is usually 17 percent in China, may raise scrap metal prices and make imported materials more competitive. Before the end of 2010, recyclers that meet certain criteria will have part of the VAT they pay refunded, the ministry said.
Source: Bizchinanow
Keywords:Value-added tax Recycled Materials
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