The tax rebate rate for some steel exports was reduced to 0%

The State Administration of Taxation of the Ministry of Finance, PRC has issued a new policy on export tax rebate rates for some steel products. Starting from May 1, 2021, export tax rebates for some steel products will be abolished.The specific execution time shall be subject to the export date indicated on the customs declaration form of export goods.To be honest, this is a very important event for the steel industry.Because export tax rebates are the actual profits of most steel product manufacturers.It is still uncertain what impact the policy will have, but one thing is very specific, orders have been sent and are being produced, but the export date was in May, so it is certain that no rebate will be available.

The following is a list of steel products whose export rebates will be cancelled. The red parts are the related our products, steel pipe, pipe fitting and flange.