China To Eliminate Export Tax Rebate On Crops
It has emerged this week that China plans, as of December 20th, to abolish
several categories of export tax rebates, in order to bring down increasing
food prices in the country and maintain domestic supplies. According to reports, export rebates on barley, corn, oats, rice, wheat, and
soybeans will be removed from December 20th. Flour derived from any of these
foodstuffs will also not be eligible for rebates. However, in an attempt to clarify the situation and reassure exporters, the
government announced in a statement that sales contracts signed before December
20th that are registered with the tax authorities before the end of the year
may continue to take advantage of the rebates on these products, as long as
the shipping date is before the end of February. .
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