Ship recyclers call for tax cut

Beijing: China’s hard-hit ship recyclers have teamed up with others in the local scrap metal business to lobby the government for tax breaks. The China National Ship Recycling Association, along with four other associations including the China Association of Metalscrap Utilization, has asked the National Development and Reform Commission to lower the 17% tax on steel scrap sales.

Beijing cancelled a 70% rebate on the 17% VAT for steel scrap recyclers in 2011.  [02/09/14]
 

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