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Reduction of export tax rebate rate by 4 to 8 percentage points
According to the “Noticeâ€, there are a total of 219 customs tax codes for the reduction of export tax rebates for machinery products, including 22 tax numbers for the petrochemical general machinery industry (of which 16 are for 8 digits and 6 are for 10 digits). The petrochemical general machinery industry imports and exports statistical tax number 13.2%. Tax reduction products fall into two categories: First, products that are high in energy consumption, high in pollution, and resource-based; and second, products that have low technological content and low added value.
According to reports, in the tax-cut products, the products with large tax cuts are mainly divided into three parts:
First, six kinds of metal containers, export tax rebate rate from 13% to 5%. Including all kinds of steel cabinets, barrels, cans, hearing and similar containers, steel containers or other containers containing compressed or liquefied gas;
Second, there are 13 types of pumps, fans and their parts. The export tax rebate rate has been reduced from 13% to 9%. Including centrifugal pumps, hand pumps, unnamed drain pumps (heading 84138100) and their parts with rotational speeds below 10,000 rpm, some centrifugal blowers, centrifugal blowers, rush blowers, etc.;
Third, some of the three types of valves and their parts, the export tax rebate rate from 13% to 9%. Includes faucets, cocks, and similar devices and their components for pipes, boilers, tanks, buckets, or the like.
Exports will be affected in the second half of the year
Since the beginning of this year, the petrochemical general machinery industry has experienced rapid growth in exports and the surplus has continued to expand. According to customs statistics, from January to May of this year, the import and export of the petrochemical general machinery industry was US$21.177 billion, an increase of 30.55% over the same period of the previous year. Among them, exports were US$13.849 billion, an increase of 44.91% year-on-year; imports were US$7.528 billion, a year-on-year increase of 10.42%. The surplus of imports and exports was 6.321 billion U.S. dollars, a surplus of 2.538 billion U.S. dollars over the same period of the previous year, an increase of 3.583 billion U.S. dollars, and the export momentum was fierce.
It is understood that the products with large surpluses in import and export are mainly: exports of petrochemical equipment: US$5.7 billion, imports of US$361 million, with a surplus of US$96 million; exports of oil drilling and drilling equipment parts are US$312 million, imports are US$56 million, with a favorable balance. US$172 million; exports of refrigeration and air-conditioning machinery were 1.451 billion U.S. dollars, and imports were 404 million U.S. dollars, with a surplus of 1.047 billion U.S. dollars.
From the above statistics, although the exports of petrochemical general machinery products have been strong in the first five months, due to the impact of the newly introduced export tax rebate reduction policy, it is expected that in the second half of the year, petrochemical equipment, oil drilling equipment, refrigeration and air conditioning, and The export growth rate of some metal containers, pumps, fans, valves and their parts will slow down.
How to reduce the impact of the export tax rebate reduction policy on export companies is a major issue facing the petrochemical industry players. Optimize product structure to improve competitiveness.
Industry insiders pointed out that lowering export tax rebates will increase the production costs of related companies, reduce profit margins, and affect the export competitiveness of these products. Some companies will be affected by the downward adjustment of export tax rebates, which will lead to difficult difficulties in production and management.
To this end, experts recommend that companies with large export volumes should, on the one hand, strive to improve management, reduce production costs and reduce the costs of intermediate links; on the other hand, they must change the export growth mode and optimize the structure of export products.
At present, although products with higher technological content and higher added value continue to grow in products exported by petrochemical general machinery, labor-intensive products and products with low added value (such as some centrifugal pumps, centrifugal fans, and some printing Machines, general plastic machinery and valve faucets and other parts still account for a significant proportion. For this reason, companies that export such products are advised to appropriately increase the prices of export products and reduce the pressure on earnings to bring pressure to enterprises. At the same time, they must optimize the structure of export products and increase the exports of products with higher technological content and higher added value. Improve competitiveness.
At present, the country’s policy orientation is to encourage enterprises to increase their efforts in the development of high-tech and high-value-added products, develop products with independent intellectual property rights, and pay attention to the continuous improvement and improvement of product technology standards, to international standards or international advanced technologies. The technical standards have been brought closer and transformed to continuously improve the quality and added value of export products. On the basis of this, under the premise of guaranteeing high prices for good quality and preventing low-price and vicious competition among export products, export products must avoid the price of export products being lower than the domestic market price, causing the importing parties to accuse anti-dumping and increase the difficulty of exporting. .
Since July 1, 2007, the "Notice on Decreasing the Export Tax Rebate Rate for Some Products" issued by the Ministry of Finance and the State Administration of Taxation has been formally implemented. Affected by this new export rebate policy, it is expected that the growth of petrochemical general machinery industry will slow down in the second half of this year.