The Ministry of Finance announced the cancellation of 146 st
Writer： admin Time：2021-05-11 15:42 Browse：℃
According to news from the Ministry of Finance website on the 28th, 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 to adjust the tariffs of some steel products from May 1, 2021.
Among them, the zero import tariff rate for pig iron, crude steel, recycled steel raw materials, ferrochrome and other products is implemented; the export tariffs for ferrosilicon, ferrochrome, high-purity pig iron and other products are appropriately increased, and the export tax rate of 25% and 20% are respectively implemented after adjustment. Temporary export tax rate, 15% temporary export tax rate.
The Ministry of Finance stated that 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.
In addition, the Ministry of Finance and the State Administration of Taxation issued a joint announcement on the 28th stating that from May 1, 2021, export tax rebates for some steel products will be cancelled. See the attachment for the specific product list. The specific execution time shall be defined by the export date indicated on the export goods declaration form.
Interpretation:
1. Cancel the 13% export tax rebate for some steel products, reduce steel exports, and not cancel cold-rolled galvanized coils
1) The 13% tax rebate for thread, hot coil and medium broadband will be cancelled;
2) Cold rolled coils and galvanized coils have not been cancelled, and a 13% tax rebate will be maintained, while cold-rolled cut plates, tinned tinplates above 0.5, and some galvanized secondary processed materials will be canceled;
3) There was no export tax rebate for narrow strip steel and billet.
2. Cancel import tariffs on pig iron and crude steel and encourage imports
Import tariffs on steel billet 2%, scrap steel 2%, direct reduced iron 2%, pig iron 1%, etc. are all eliminated.
3. The export tariffs on pig iron and ferroalloys will be increased by 5% to restrict exports.
4. The cancellation of the tax rebate represents the country's determination to reduce steel production capacity. Congratulations to all steel traders, it is another beautiful year!