Ann: Investor Presentation FY2021 Financial Results, page-246

China zero import tax for coal, grea

According to the Ministry of Finance on April 28, the Customs Tariff Commission of the State Council issued an announcement to adjust the import tariffs on coal.

The announcement shows that in order to strengthen the guarantee of energy supply and promote high-quality development, the Customs Tariff Commission of the State Council has decided in accordance with procedures that from May 1, 2022 to March 31, 2023, a provisional import tax rate of zero tax will be implemented for coal.

It is understood that my country's tariff rates on imported coal vary depending on the type of coal and the country/region of origin.

At present, Indonesia, the largest source of coal imports in my country, according to the ASEAN Economic Cooperation Framework and import and export tariffs, the current applicable tax rate is 0. The most-favored-nation tax rate applies to coal imported from Russia, Mongolia, and Canada from other import source countries. The tax rate varies from 3% to 6% according to different coal types. Coal imports from the United States are subject to a 5% tariff in addition to the normal taxation at the most-favored-nation rate.

At present, the high price of overseas coal is the biggest reason for restraining the growth of import volume. Before the international energy price falls, the impact of the policy on the current supply side is small, and it is expected that there will be a certain degree of growth expectation for the long-term supply.

Editor: Xu Yunqian

https://cj.sina.cn/articles/view/1838672663/6d97eb17020019hbg?finpagefr=p_104&vt=4