Analysis of the impact of soybean meal tax refund

Introduction: the State Administration of Taxation recently adjusted the VAT tax rebate rate for soybean meal export The new tax rebate rate increased from 5% to 13%, that is to say, 100% tax rebate will be given to soybean meal export The implementation time of the new tax rebate rate after adjustment is the beginning of this year Therefore, the soybean meal declared for export since January 1, 2002 will enjoy the preferential tax rebate policy Soybean meal has been classified as agricultural products to implement the VAT collection and tax refund policy in the customs tariff classification formulated by the State Administration of taxation From the perspective of protecting the normal development of domestic soybean crushing industry, the government classified soybean meal into industrial products with agricultural products as raw materials and implemented the tax refund policy After this adjustment, the tax rebate rate of soybean meal was adjusted from 5% to 13% Then, what will the soybean meal tax rebate policy bring to the future market? First of all, after the domestic soybean meal price maintains a short stable situation in the middle of July, driven by the rising soybean price in the international market and the rising soybean cost in Hong Kong, it shows a rapid upward trend, and the soybean meal tax rebate policy will become a new driving force for the rapid growth of the domestic soybean meal market in the near future Secondly, the most direct impact of the tax rebate policy is that the export cost of soybean meal tends to reduce, which will further promote the competitiveness of China's soybean meal export If the current FOB price of soybean meal exported by soybean processing plants in the coastal areas of East China is 1697-1730 yuan / ton, the export quotation after enjoying the full 13% export tax rebate policy can be reduced to 1502-1531 yuan / ton This means that the cost per ton of soybean meal exported by the processing plant will be reduced by 195-199 yuan In the case of increasing export earnings of soybean meal, the situation that export earnings are significantly lower than domestic sales earnings will also change greatly After enjoying the export tax rebate, the gap between the two has been greatly narrowed, and the export earnings even exceed the domestic sales earnings to a certain extent, which will attract more soybean processing enterprises to engage in soybean meal export activities Third, according to the data released by the General Administration of customs, China's soybean meal exports have increased significantly this year In June, the national export of soybean meal was 98100 tons, an increase of 87400 tons or 814.7% over the same period last year From January to June, China has exported 596500 tons of soybean meal, an increase of 545300 tons compared with the same period last year, an increase of 1066% Since June 2001, China began to strengthen the supervision of soybean import, which made the number of imported soybeans in 2001 / 2002 significantly lower than that in the previous year In view of the stable growth trend of the total soybean meal demand this year, the total domestic demand for oil soybeans is expected to remain at a high level This has been a high domestic oil soybean market to form a favorable support Fourth, it is expected that the domestic soybean meal price will continue to maintain a high level, and the price may even increase under the influence of new good news The international soybean market is still at a high level, and the procurement cost of domestic soybean processing plants is increased Although the Chicago soybean price has fallen recently, the cost price of imported soybeans transported to the port from August to September has not been significantly reduced, and the C & F price of August and November shipment remains at a high level of $236 / ton The purchase cost of soybean in domestic processing plants is significantly increased, which will play a supporting role in the price of soybean meal In addition, after the end of July, the breeding and feed industry will enter the seasonal peak consumption season, and the overall demand level for soybean meal will be seasonally improved, and the growth of demand will drive the soybean meal price at a higher level Moreover, the adjustment of tax rebate reduces the export cost, improves the processing efficiency of enterprises, increases the demand of soybean meal, and finds reasons for the high operation or further increase of domestic soybean meal price (author:) share to feed Weibo share to: