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Chinese government lifted tax rebate for export petrochemical productsChinese government lifted tax rebate for export petrochemical products |
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The Chinese Ministry of Finance announced that starting 20 March 2020, the country would lift the tax rebate rates for three more petrochemical products when exporting, including ethylene (HS: 29012100), qualified terephthalic acid (HS: 29173619) and MEG (HS: 29053100).
The tax rebate for these three products is currently at 10% and would be lifted to 13% once the new policy becomes effective.
China is a net importer of ethylene.
Country
China
