Cotton VAT Rate to Be Cut from 11% to 10% from May 1, 2018
China will cut value-added tax (VAT) rates as part of a tax reduction package amounting to 400 billion yuan (about 63 billion U.S. dollars) this year. The decision was made at a State Council executive meeting chaired by Premier Li Keqiang on Wednesday.
The tax rate, starting from May 1, will be lowered from 17 percent to 16 percent for manufacturing, and from 11 percent to 10 percent for transportation, construction, basic telecommunication services and farm produce. It means that the VAT rate for cotton will be cut to 10 percent from 11 percent.
You May Interested In
Glow70/KLOW80 99% China Peptides Warehouse Direct Delivery Lyophilized Powder in Stock
$1.8E+2/UNIT FOB
2026-08-15
Trade Alert
Delivering the latest product trends and industry news straight to your inbox.
(We'll never share your email address with a third-party.)
Related News
-
National Bureau of Statistics: continue to speed up tax cuts and reduce fees
-
Coal enterprises benefit most from the tax reduction of VAT
-
Parliamentary Panel Urges Expanded Price Controls as Dozens of Cancer Drugs Remain Unregulated
-
FDA approves bemotrizinol, a long-used UV filter, for U.S. sunscreens
-
GM Crop Area Reaches 216 Million Hectares
-
GM Crop Area Reaches 216 Million Hectares
-
FDA Delays Beetroot Red and Spirulina Color Orders
-
Japan Tightens the Rules—Then Loosens Them: A Surprising Shift in Food Additive Policy
-
FDA Pushes New Approach to “No Artificial Colors” Claims
-
The End of Hype: Europe’s Bio-stimulant Industry Faces a Science-First Reckoning by 2030
Recommend Reading
-
Jinggong Tech H1 Net Profit Soars 15 Percent Revenue Reaches 1.06 Billion Yuan Carbon Fiber Equipment Drives 59 Percent of Sales
-
EPA Clears Backlog of Refinery Biofuel Waivers, Sparking Fears for Ethanol Demand
-
Global Butadiene Market Faces Heavy Headwinds as Supply Surge Outpaces Demand
-
Four Fine Chemical Units of Huajin Aramco Project – HDPE, EO/EG, etc. – Reach Mechanical Completion
-
关于将二氟乙咪酯等16种物质列入《非药用类麻醉药品和精神药品目录》的公告 Announcement on the Inclusion of 16 Substances including Difluoroetomidate in the Catalogue of Non-Medicinal Narcotic Drugs and Psychotropic Substances
-
Formic Acid Prices Sideways; Future Plant Maintenance Plans Scheduled
-
This week's anhydrous hydrogen fluoride market remains stable (10.13-10.16)
-
Lack of Effective Support, Weak Operation of Cyclohexanone in Shandong
-
Post-holiday China 180CST fuel oil prices slightly increase
-
Post-Holiday Petrocoke Market Prices Rise