Tax reduction of Chinese mineral products under the 10+1 ASEAN Free Trade Area

As China's demand for resources and energy continues to increase, domestic supply alone is far from satisfactory. Therefore, the import of resources and energy products has become a necessary guarantee for China's economic development. Similarly, minerals, which are mainly resource and energy, also play an important role in the trade between China and ASEAN, and are also one of the main areas where both sides benefit from the tax reduction in the China-ASEAN Free Trade Area.

China's mineral products exported to ASEAN mainly include refined oil and its products, petroleum crude oil and crude oil extracted from bituminous minerals, coal, petrolatum and paraffin, coke, frozen stone and talc.

The tax reduction of Chinese mineral products under the 10+1 Free Trade Zone is:

1. Salt, sulphur, earth and stone, gypsum, lime and cement
The tax rate for such products in China is generally less than 10%, and the tax reduction model is therefore relatively simple.

1. In addition to pure sodium chloride, China's salt, other salt, seawater, etc. have achieved zero tariffs. The pure sodium chloride tax rate of 3% will maintain the original tax rate until zero tariffs are achieved in 2009.

2. Sulfur uncalcined pyrite and sulphur (excluding sublimed sulphur, precipitated sulphur and colloidal sulphur) are taxed at 3%, and the tax reduction mode is the same as pure sodium chloride.

3. The soil and stone materials such as natural graphite, natural sand and quartz are all taxed at 3%, and the tax reduction mode is the same as pure sodium chloride.

4. Various stone materials. The stone and travertine, granite and paving stones have a tax rate of 4%; other stones, including pumice stone, corundum rock, natural garnet and other natural abrasives, have a tax rate of 3%, and the tax reduction model is the same, all maintaining the original tax rate until 2009. Zero tariffs are achieved in the year.

5. Gypsum. The natural magnesium carbonate tax rate is 3%. In 2009, zero tariffs were realized; gypsum, including raw gypsum, plaster and hard plaster, was taxed at 5%, and zero tariff was achieved in 2009.

6. Lime. Including limestone, quicklime, slaked lime, hydraulic lime and other tax rates of 5%, zero tariffs in 2009.

7. Cement clinker achieved zero tariff in 2009.

2. Mineral sand, slag and ash
1. Mineral sand and its concentrate. China's various mineral sands and concentrates, including iron, manganese, copper, nickel, cobalt, aluminum, lead, zinc, tin, chromium, tungsten, uranium, molybdenum, titanium, niobium, vanadium, etc., have achieved zero tariffs.

2. Slag and ash. Including smelting, scum and other wastes produced by smelting steel, ash and residue containing arsenic, metals and their compounds, the tariff is 4%, the original tariff will be maintained until zero tariffs are achieved in 2009.

China has cut tariffs on resources and energy minerals to a very low level before joining the WTO. After joining the WTO, it has remained at a low level. ASEAN countries are geographically close to China and have abundant resources and energy. They will play an increasingly important role in China's energy supply diversification strategy. After the comprehensive tax reduction of the China-ASEAN Free Trade Area begins, China's imports of resources and energy from ASEAN will further increase under the dual effects of increased demand and lower tariffs. With the gradual completion of the free trade zone construction process, it is believed that the metal minerals in the Indo-China Peninsula, oil, liquefied natural gas, etc. in Vietnam, the Philippines, Indonesia, Malaysia and other countries will gradually form an indispensable support force for China's economic development.   . .,. . . . . . .

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