A Number Of Preferential Policies Introduced To The Industry To Enjoy The Bonus

- Dec 31, 2018-

In 2018, the international trade environment faces many uncertainties. For this reason, the country has introduced a number of policies to help enterprises reduce costs and increase profits. On September 5 and October 22, the Ministry of Finance and the State Administration of Taxation issued two notices to increase the export tax rebate rate for some products from November 1, 2018. The export tax rebate rate for tires, rubber hoses and rubber products was 9% increased to 13%, and the export tax rebate rate for raw materials such as natural rubber and synthetic rubber increased from 5% to 10%. On September 20, the Ministry of Finance, the State Administration of Taxation and the Ministry of Science and Technology jointly issued a notice. During the period from January 1, 2018 to December 31, 2020, the pre-tax deduction ratio of R&D expenses of enterprises increased by 25%. Large R&D investment, rubber companies also enjoy the policy dividend. On October 29th, Shandong Province issued the “Implementation Plan for Accelerating the High-Quality Development of Seven High-Energy-consuming Industries”, which will promote the survival of the fittest and transformation of the tire industry based on indicators such as energy consumption, efficiency, per-mu contribution, technical evaluation, and quality standards. upgrade.