China tax exports PET polyethylene terephthalate - Arhive

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China has increased the amount of tax refunds on exports of PET  China tax exports PET polyethylene terephthalate

China tax exports PET polyethylene terephthalateMOSCOW – China has increased the amount of tax refund for the export of polyethylene terephthalate from the country to 16%, according to ICIS .

This legislative decision came into force on November 1 of the current year.

PET granules according to the HS code 39076110, 39076190, 39076910 and 39076990 have long been on the list of tax changes. Previously, manufacturers returned 13% of tax payments. China tax exports PET polyethylene terephthalate

According to market participants, this, together with the recent weakening of the Chinese yuan, will increase the competitiveness of Chinese PET exports.

According to ICIS-MRC’s Price Review , last week, the cost of bottled PET, including delivery to the port of Vostochny, by Chinese manufacturers dropped sharply to the range of USD1,190-1,115 per ton, excluding VAT.

mrcplast.ru

Author:                Anna Larionova