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Foreign ship-owners could collect cargoes equally like Chinese ship-owners

Views: 696     Author: VV     Publish Time: 2016-07-11      Origin: Rech Chemical Co. LTD

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In 2014, the Chinese government issued a notice that 6% VAT of freight charge could be cancelled for overseas ship-owners. It's all good news for zinc sulfate buyers who imported from China and foreign ship-owners.

According to Chinese law, foreign ship-owners could collect cargoes only by wholly owned subsidiaries or third party agents, but Chinese ship companies can charge directly to the owner instead of through the forwarder. Originally, foreign ship-owner could get this part cost by income tax reduction. However, since Chinese domestic have unified to adopt a tax policy of “all sales tax charged into added-value tax” on August 2013, foreign ship-owners can no longer benefit from this solution. This notice issued by finance ministry of China not only canceled 6% VAT, but also makes the domestic and international shipping market is fairer.

Actually, ocean freight in zinc sulfate import and export cost takes relatively larger proportion, so if buyers can seize the opportunity to reduce costs, your offer price would gain more competitiveness in your market.


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