Since April, the news of the introduction of environmental taxes and value-added tax has been reduced by 1%, and changes in the policy have evoked waves in the industry. How will the implementation of the “two taxes” affect the plastics industry?
First of all, for the environmental protection tax, the “Environmental Protection Tax Law” is implemented in early 2018. The tax law stipulates that the environmental protection tax shall be reported on a quarterly basis, and the environmental protection tax in April will usher in the first levy. The most important purpose of changing "taxes" to "taxes" is not to obtain fiscal revenue, but to establish a "multi-row, multi-tax, tax-free, and less tax-paying" mechanism. By rigid taxes, high-pollution, high-energy companies are forced to use them. Upgrade. In recent years, as the country attaches importance to environmental protection, enterprises respond positively to various requirements for environmental protection in production. At present, the implementation of environmental taxes has little impact on the normative polyolefin industry. Therefore, the collection of environmental taxes will greatly increase the number of enterprises. The argument that costs are passed on to the product is untenable.
From VAT, from May 1, 2018, the value-added tax rate for manufacturing and other industries was reduced from 17% to 16%, and the VAT rate for goods such as transportation, construction, basic telecommunication services, and agricultural products, etc. was from 11 % to 10%. The value-added tax is reduced by 1%. For a product with a ton price of approximately RMB 10,000 for a polyolefin product, the difference in value-added tax per ton is approximately RMB 100. In April, the market action gradually showed up based on the value-added tax in the earlier period of VAT reduction. Changes in the tax, the market is relatively reduced risk of goods, based on the May domestic overhaul, production decline, the market is expected to support the bottom of the full, part of the middlemen to purchase stocks in the appropriate price sources, plans to ship in May, when will There is a flexible operation space of about 100 yuan/ton, and as the end of the month approaches, some merchants' quotation starts to appear in two different prices: monthly billing and May billing.
In general, the impact of the environmental tax levy on the industry cost and market conditions has changed little, but the value-added tax has been reduced by 1%. Some flexible operating conditions have appeared in the market during the handover of the tax rate change. In April, the stock was released in May or to some extent. The supply situation of the supply chain is tight, and in the trend market, based on the current contradiction between supply and demand of plastics, the value-added tax is reduced by 1%, which will have a certain degree of inhibition on plastic prices.
