Increased export tax rebate rate for machine tool carbide tools to 11%

With the approval of the State Council, the Ministry of Finance and the State Administration of Taxation issued the "Notice on Raising the Tax Rebate Rates for Certain Commodities", and appropriately increased the export tax rebate rate for some labor-intensive, high-tech, and high-value-added commodities. China implements new export tax rebate standards, which involve only one kind of goods in the machine tool industry, namely CNC machine tools. The specific name is a metalworking machine tool and blade made of cemented carbide (for metal processing). The product code is 8208101000 and the tax rebate rate is increased to 11%.

According to industry sources, the tool industry has been encouraging the production of carbide cutting tools for many years, and the increase in export tax rebate rate indicates that the country’s support for this is based on expanding domestic demand, improving the export competitiveness of enterprises, and supporting enterprises in expanding exports. The policy measures are conducive to the steady and rapid development of the national economy.

It is reported that because the production of high-speed steel cutting tools consumes a lot of resources, and the products are low in price and low in price, the industry does not encourage this. However, due to the demand of China's machinery manufacturing industry and the transformation of China's cutting tool technology, most of the Chinese tool companies still rely on the production of such tools. At the same time, the export volume is also large. It is understood that in 2012 China exported 800 million U.S. dollars worth of tools, most of which are made of high-speed steel and only a few million yuan in cemented carbide tools. At the same time, the export structure of this product is also a factor that causes friction in international trade. Although the United States, Germany, and other developed countries have not yet responded clearly to Chinese cutting tools, there have been boycotts in Spain and some countries in South America. Therefore, the tool branch repeatedly called for reducing the export of high-speed steel cutting tools, but the current state of the industry has not changed significantly.