Loads of media releases around June / July 2012, and really nothing since.
Reading some of them, there was no number stated and even some of the commentary asked what the number would be.
A) I'm not sure at what number this was implemented, if indeed it was at the time. It may have been on of the media scare stories - who knows. B) It sounds to me more like an audit trail to allow the authorities some tracking of supplies, rather than a revenue earner. As all input deductions have to be tracked against another VAT registered business then it allows full audit trail from 1st producer to the end customer. C) The LYC presentation was in 2009, some 3 years before this latest VAT China media. so how on earth did LYC come up with this as at the time exporters were exempt.
I'm still struggling to understand how VAT has any impact on the competitiveness of LYC in or outside of China.
LYC Price at posting:
52.5¢ Sentiment: None Disclosure: Not Held
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