13 petrochemical general machinery costs are expected to be cut

The Ministry of Finance, the National Development and Reform Commission, the Ministry of Commerce, the General Administration of Customs, and the State Administration of Taxation recently issued a joint circular to adjust the export tax rebate rate for certain commodities and supplement the catalogue of processing trade prohibited commodities. The export tax rebate rate for general machinery of 13 petrochemicals increased by 4 percentage points. . The industry believes that the adjustment of the export tax rebate will bring positive benefits to the domestic petrochemical general machinery industry.
Experts in the industry analyzed that the export tax rebate rate for the 13 kinds of petrochemical general-purpose machinery products with high technological content will be increased from the current 13% to 17%, which will help to reduce the export costs of these products and promote the structural adjustment of export products of the petrochemical general machinery industry. The improvement of industrial structure is an opportunity for general machinery manufacturers to expand exports. Secondly, due to the reduction of the export tax rebate rate for a large number of steel products (142 tariff lines) by 3 percentage points and the export tax rebates for some non-ferrous metals (85 tariff lines) by 8, 5, and 2 percentage points respectively, the export of these raw materials increased. The cost will make it possible for some of the raw materials to be transferred to the domestic market, thereby lowering prices. In particular, the export tax rebate rates for copper and copper materials have been reduced from 13% to 5%, and exports will be greatly affected. It is expected that prices of copper and copper materials will be somewhat higher in the current international market, and prices in the domestic market will increase. Inhibition is beneficial to machinery manufacturing enterprises to reduce production costs and increase economic efficiency.
Experts believe that this time restoring a number of high-tech export rebates to a level of 17% is a perfection and supplement to the adjustment of export tax rebates in 2004, but there are still many high-tech export rebates for machinery products. The rate is still low. Therefore, it is recommended that relevant departments of the country make further adjustments. Experts suggest that the export tax rebate rates for the following petrochemical general machinery products should be restored from 13% to 17%: oil rig parts, offset presses in printing machinery, hydrogenation reactors, industrial dust collectors, concrete pumps, injection molding machines, plastics Hollow forming machine.
According to reports, the export tax rebate rate for the machinery industry, which was determined in the notice, has been increased from 13% to 17% for a total of 87 tariff items, 13 of which are from the petrochemical general machinery industry, mainly including gas, acetylene, and similar hydrolyzed gas generators. Parts, refrigeration units and heat pumps and parts, oxygen generators, axial flow, screw, centrifugal and natural gas compressors.


Schedule 13 List of Petrochemical General Machinery to Improve Export Tax Refund Rate Product List
Serial number Tax number Product raised to
1 84051000 Gas, acetylene and similar hydrolyzed gas generators 17
2 84059000 Parts for gas generators such as gas and acetylene 17
3 84186110 heat exchanger compression refrigeration unit and heat pump 17
4 84186190 heat exchangers for compression other refrigeration equipment 17
5 84186910 Non-heat exchangers, compression refrigerating units and heat pumps 17
6 84186990 Non-heat exchangers Compression other refrigeration equipment 17
7 84189910 Refrigerating units and parts for heat pumps 17
8 84196011 Oxygen Concentrators 17
9 84196019 Oxygen Concentrator 17
10 84148090 Axial flow compressors 17
11 84148090 Screw compressors 17
12 84148090 Natural gas compressors 17
13 84148090 Centrifugal compressors 17

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