The tax rebate proportion of fiberboard, particleboard and joinery board comprehensive utilization products will be increased to 90%

The tax rebate proportion of fiberboard, particleboard and joinery board comprehensive utilization products will be increased to 90%

January 12, 2022 source: China Wood Industry

The wood-based panel industry uses agricultural and forestry residues as raw materials. Since the implementation of the value-added tax levy and refund policy in 2001, it has not only promoted the rapid and healthy development of China’s wood-based panel, furniture, flooring and related industries, and the comprehensive utilization rate of wood is leading the world, but also driven the development of upstream industries and enhanced the afforestation enthusiasm of the whole society. It is important to improve forest coverage and ensure national wood safety, It has played a positive role in helping poverty alleviation and promoting the construction of ecological civilization.

In order to better promote the comprehensive utilization of resources and ensure the sustainable and healthy development of the national economy, the Ministry of Finance and the State Administration of Taxation issued the announcement on improving the value-added tax policy for comprehensive utilization of resources (Announcement No. 40 of the Ministry of Finance and the State Administration of Taxation in 2021, hereinafter referred to as the announcement) at the end of 2021. On the basis of further expanding the scope of comprehensive utilization of resources and products in agricultural and forestry residues and other categories, the announcement increased the tax rebate proportion of fiberboard, particleboard, blockboard, biochar, activated carbon, tannin extract, furfural, box board paper and other comprehensive utilization products from 70% to 90%, and increased the tax rebate proportion of biomass crushed materials, biological natural gas Pyrolysis gas and bio oil were included in the catalogue of comprehensive utilization tax rebate products for the first time, with a tax rebate ratio of 100%. At the same time, the standardized operation requirements of enterprises applying for tax rebate were further clarified.

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