AreaChina (Mainland)
Commodity GroupOilseeds, oils and meals
CommodityOilseeds, oilmeals and vegetable oils
Date01/05/2018
Policy CategoryOther
Policy InstrumentTax policy
DescriptionLowered 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.
NotesOn 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.
