On November 15, the Ministry of Finance and the State Administration of Taxation issued an announcement to adjust the export tax rebate policy, canceled the export tax rebate for 59 products such as aluminum and copper primary products, and lowered the export tax rebate rate for 229 products such as solar energy.

The main adjustments include:

1. Cancel the export tax rebate for aluminum, copper, and chemically modified animal, plant or microbial oils, fats and other products. The specific product list is downloaded at the end of the article.

2. The export tax rebate rate for some finished oils, photovoltaics, batteries, and some non-metallic mineral products will be reduced from 13% to 9%. The specific product list is downloaded at the end of the article.

3. This announcement will take effect on December 1, 2024. The export tax rebate rate applicable to the products listed in this announcement is defined by the export date indicated on the export goods declaration form.

Original announcement query: https://szs.mof.gov.cn/zhengcefabu/202411/t20241115_3947628.htm

This adjustment is most concerning for photovoltaic products. In the list of products with reduced export tax rebate rates, photovoltaic products include commodity code 85414200 (photovoltaic cells not installed in components or assembled into blocks) and commodity code 85414300 (photovoltaic cells installed in components or assembled into blocks).

At present, photovoltaics, batteries, etc. have strong international competitiveness. Reducing their export tax rebate rates can encourage enterprises to eliminate backward production capacity, increase investment in technological innovation and industrial upgrading, promote high-quality economic development, and enhance my country's position in the global value chain.

In addition, for some products with high resource consumption and high environmental pollution risks, such as aluminum, copper, and chemically modified animal, plant, or microbial oils and fats, the cancellation of export tax rebates will help guide enterprises to reduce the production and export of such products and promote the industry's development in a green and low-carbon direction.