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The impact of the implementation of "two taxes" on plastics companies

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The impact of the implementation of "two taxes" on plastics companies

[Abstract]:
Since April, with the news that the environmental protection tax has been levied and the value-added tax will be reduced by 1%, the policy changes have also provoked a fierce response in the industry.

Since April, with the news that the environmental protection tax has been levied and the value-added tax will be reduced by 1%, the policy changes have also provoked a fierce response in the industry. How will the implementation of the “two taxes” affect the plastics industry? What about the impact?

 

First of all, the environmental protection tax, the "Environmental Protection Tax Law" was implemented in early 2018, the tax law stipulates that the environmental protection tax is declared on a quarterly basis, and the environmental protection tax in April ushers in the first levy. The most important purpose of changing the "fee" to "tax" is not to obtain fiscal revenue, but to establish a mechanism of "multiple-row multi-tax payment, less-disbursement of less taxes", and to force high-pollution, high-energy enterprises through rigid taxation. Upgrade. In recent years, with the country's emphasis on environmental protection, enterprises have responded positively to various environmental protection requirements in production. At present, the implementation of environmental protection tax has little effect on the well-regulated polyolefin industry, so the environmental tax will be greatly increased. The argument that costs are passed on to the product is not valid.

 

In terms of value-added tax, from May 1st, 2018, the value-added tax rate of manufacturing and other industries will be reduced from 17% to 16%, and the value-added tax rate for goods such as transportation, construction, basic telecommunications services and agricultural products will be 11 % is reduced to 10%. The value-added tax is reduced by 1%. For products with a price of about 10,000 yuan for polyolefin products, the price difference per ton is about 100 yuan.

 

In the early stage of the VAT reduction in April, the market action gradually appeared. Based on the change of VAT, the market risk of goods was relatively reduced. Based on the domestic maintenance in May, the output decreased, and the bottom of the market supported the expected expectations. Some middlemen were satisfied. The source of stock purchases is planned to be shipped in May. At that time, there will be about 100 yuan/ton of flexible operation space, and as the month approaches, some merchants will start offering two different prices for the monthly invoicing and the May invoicing.

 

On the whole, the environmental pollution tax has little effect on the industry cost and the market, but the value-added tax is reduced by 1%. In the tax rate change handover period, there is some flexible operation in the market. In April, the release of goods in May will be released to some extent. The supply of goods in the link is tight, and in the trend market, based on the current contradiction between supply and demand of plastics, the VAT reduction of 1% will have a certain inhibitory effect on plastic prices.