Camu lobbying government for scrap incentives
Jun 11, 2012 | 02:11 AM
|
The China Assn of Metal Scrap Utilisation (Camu) wants the Chinese government to halve the 17% value added tax that scrap companies pay when buying the materials to promote the use of scrap and boost production.
It also wants the VAT scrap rebate for steel mills to be increased from 17% to 25%.
"A proposal has been delivered to the government that tax burdens should be reduced for scrap users, including scrap companies who collect and process scrap and steel mills who consume scrap," Wang Zhenwu, honorary chairman of Camu, said on the sidelines of the 1st Chinese Renewable Resources Industry Development Summit on Friday June 8 in Qingdao.
Wang said that the Chinese Ministry of Finance is currently discussing the proposal with Camu, and that the association is hoping for a decision soon.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here