Imported fuel oil for ethylene can apply for return of consumption tax
2019-01-10 19:14:33
The Ministry of Finance recently issued the "Circular on Adjusting Part of the Imported Fuel Oil Consumption Tax Policy." From January 1 to December 31 this year, imported fuel oil used as raw materials for the production of chemical products such as ethylene and aromatics can be returned to the consumption tax on imports. Lin Boqiang, director of the China Energy Economic Research Center at Xiamen University, believes that "fuel oil plays an important role in the production of ethylene and aromatics, and the return of excise duties on imported fuel oil will help expand production."
Fuel oil is mainly used for power generation of power plants, ship boiler fuels, etc. It can also be used as chemical raw materials. Prior to this, the Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation jointly issued the "Notice on the Re-entry of Import Taxes on Naphtha Import Consumption before Relevant Issues", on the return of consumption tax on imported naphtha used as a chemical product for the production of ethylene and aromatic hydrocarbons. The brain oil is a kind of fuel oil.
Fuel oil is mainly used for power generation of power plants, ship boiler fuels, etc. It can also be used as chemical raw materials. Prior to this, the Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation jointly issued the "Notice on the Re-entry of Import Taxes on Naphtha Import Consumption before Relevant Issues", on the return of consumption tax on imported naphtha used as a chemical product for the production of ethylene and aromatic hydrocarbons. The brain oil is a kind of fuel oil.
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