Good News-China Will Increase Export Tax Rebate Rate for Some Products Including Pesticides

On March 17, the Ministry of Finance of the People’s Republic of China and the State Taxation Administration  issued the Announcement on Increasing the Export Tax Rebate Rate of Some Products, the export tax rebate rate for 380 products such as plant growth regulators will be raised to 9% starting from March 20, 2020.

This adjustment has improved the overall export tax rebate rate of the agrochemical industry, which will help to reduce the impact of the novel coronavirus on the pesticide industry, to stabilize the development of pesticide export trade, to promote the export of pesticide formulations and to create Chinese pesticide brands, and stimulate pesticide additives, packaging, printing and other related industries.

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