Area
China (Mainland)
Commodity Group
Oilseeds, oils and meals
Commodity
Oilseeds, oilmeals and vegetable oils
Date
01/05/2018
Policy Category
Other
Policy Instrument
Tax policy
Description
Lowered the country\'s value-added tax on sales and imports of agricultural products including oilseeds, oilmeals and edible vegetable oils from 11 percent to 10 percent.
Notes
On 1 May 2018, Chinas value-added tax on sales and imports of agricultural products including oilseeds, oilmeals and edible vegetable oils has been lowered from 11 percent to 10 percent. The measure, which is part of a broader tax reduction package and follows a first, more substantial VAT cut in 2017 (see MPPU June17), is aimed at facilitating economic growth in the agricultural sector, especially in the processing industry.
