This article analyzes the far-reaching impact of China's photovoltaic and energy storage export tax rebate reduction in 2024 on the industry, explores the future trends of the photovoltaic and energy storage industries and their global competitiveness, and provides a comprehensive market outlook.
China's PV cuts 4% export tax rebate rate a big deal On November 15, China's Ministry of Finance and the State Administration of Taxation announced a reduction in the export tax rebate rate for certain products, including refined oil, photovoltaic (PV) products, batteries, and some non-metallic mineral products, from 13% to 9%.
Which PV products have reduced export tax rebate rates?
According to the above-mentioned government announcements, PV products included in the list of products with reduced export tax rebate rates are for PV cells, either installed or not in modules.
Starting from 1 December 2024, the export tax rebate rate for some refined petroleum products, PV products, batteries and some non-metallic mineral products will be lowered by four percentage points, from 13% to 9%.
Meanwhile, the export tax rebate rate for some refined oil products, photovoltaic products, batteries and certain non-metallic mineral products will be reduced from 13 percent to 9 percent. China announced on Friday that it will change export tax rebates for a range of products, effective from Dec. 1.
What products are included in the export tax rebate?
This adjustment reduces the export tax rebate rate from 13% to 9% for certain refined oil products, photovoltaic products, batteries, and some non-metallic mineral products, covering a total of 209 tariff items: Refined oil products: This includes various types of gasoline, diesel, and aviation kerosene.
Will China cancel export tax rebates for energy transformation?
China will cancel or reduce export tax rebates for a number of products starting from December 1, including several related to energy transformation, according to a November 15 document jointly issued by China's Ministry of Finance and State Taxation Administration.