China's consumption tax reform will impose a 4% consumption tax on paint

China Coatings Network
News: According to the Ministry of Finance, the State Administration of Taxation issued on January 26, 2015 "on the battery,
coatings
consumption tax notice", from February 1, 2015, batteries, coatings included in the scope of consumption tax collection, in the production, commissioned processing and import links, the applicable tax rate is 4%. In addition, the notice requires that the volatile organic matter content of less than 420 g / liter of paint in the construction state is exempt from consumption tax. At the same time, other matters relating to the collection and administration of consumption tax on batteries and coatings shall be carried out in accordance with the Interim Regulations of the People's Republic of China on Consumption Tax and the Regulations on the Implementation of the Interim Regulations on Consumption Tax of the People's Republic of China.
this time on batteries, paint consumption tax, is one of the contents of this year's consumption tax reform. Finance Minister Lou Jiwei said at a previous national finance work conference that this year will further adjust the scope, link and tax rate of consumption tax collection, high energy consumption, high pollution products and some high-end consumer goods into the scope of collection.