The Chinese Ministry of Finance, together with the national Industrial and Commercial Bureau, has cancelled export tax rebates on some 40 pesticide active ingredients with effect from August 1st. The abolition of the rebate, from its previous level of 5%, could mean a 6% rise in export prices for the products affected, according to Hong Kong-based agrochemical marketing and consultancy firm Psyche Chemicals. The rebate, which stood at 11% in 2005, was introduced by the Chinese government to encourage agrochemical exports.
Export contracts signed before August 1st must be registered with a local tax office in China by August 15th, allowing all registered exports declared at customs before January 1st 2009 to remain eligible for the rebate. Unregistered exports and pesticides exported after December 31st 2008, will not be eligible for the rebate.
Pesticide ais for which the export rebate has been cancelled include: the insecticides, acephate, carbofuran, coumaphos, ethiofencarb, isofenphos-methyl, methomyl; the acaricide, dicofol; the rodenticides,diphacinone and warfarin, and the fumigant, methyl bromide.
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