RIM Market News >  Asian Viewpoints

China to cut add-value tax for LPG in April

2019/03/22 12:00


Chinese Premier Li Keqiang unveiled its plan to sustain a massive reduction of taxes and fees in 2019, in the second meeting during the 13th National People's Congress. Li mentioned Beijing would also curtail the value-add tax (VAT) for liquefied petroleum gas (LPG).


The VAT for LPG has been reduced twice since 2017 to date. On Jul 1, 2017, the VAT was initially revised downward to 11% from 13%. The first adjustment included domestically-produced LPG, imported propane and butane. The second adjustment was implemented on May 1, 2018, pushing down the VAT to 10% from 11%. The latest announcement to slash the VAT to 9% from 10% will come into effect on Apr 1, 2019.


The lower VAT will save sales costs for LPG suppliers and give a certain price merit for end-users as well.



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