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Shenghong receives consumption tax refund on naphtha

Guangzhou (JLC), August 30, 2024 – Shenghong Petrochemical has recently received a consumption tax refund of CNY4.33 million on naphtha.

08-30-2024 18:43:13

Blendstock prices rise after consumption tax made official

Guangzhou (JLC), July 3, 2023 – Prices of some blendstocks rose significantly over the weekend after China announced on June 30 that somes fuel blending components would be subject to consumption tax.

07-03-2023 18:29:52

China announces consumption tax on alkylates, mixed aromatics

Guangzhou (JLC), June 30, 2023--China has imposed a consumption tax on alkylates (isooctane), an important component for blended gasoline, as from June 30, 2023.

06-30-2023 22:53:42

China’s mixed aromatics imports plunge in Jan-Feb on consumption tax

China’s mixed aromatics imports fell during January-February of 2022, owing to the country’s levy of a consumption tax.

04-08-2022 19:57:08

China’s LCO imports drop in June on consumption tax

Beijing (JLC), July 27, 2021--China’s light cycle oil (LCO) imports dropped in June 2021 as a consequence of the levy of consumption tax on the diesel blending feedstock.

07-27-2021 17:38:30

Proposed consumption tax on LCO could dampen imports

Beijing (JLC), March 10, 2021--The consumption tax on light cycle oil (LCO) proposed at China’s Two Sessions earlier this month could dampen the country’s LCO imports, as the blendstock would be deprived of its price advantage by the tax.

03-10-2021 10:35:02

Proposed consumption tax on mixed aromatics could dampen imports

The consumption tax on mixed aromatics proposed at China's Two Sessions earlier this month could dampen the country’s mixed aromatics imports, as the blendstock would be deprived of its price advantage by the tax.

03-08-2021 17:22:30

China removes quotas, consumption tax on bonded bunker fuel oil

China no longer requires quotas for bonded bunker fuel oil supplied to international ships and producers do not need to pay consumption tax on the fuel any longer, according to industry sources.

02-21-2020 11:40:13

China may cut consumption tax on refined oil?

Guangzhou (JLC), May 5, 2019--China is working to lower domestic gasoline and diesel prices, probably by cutting the consumption tax, to ease enterprises’ burdens and stimulate its economy, market sources have said recently.

05-05-2019 19:08:09

China’s new regulations on oil product consumption tax in review

China’s State Administration of Taxation (SAT) announced tighter regulations on oil product consumption tax in early January and implemented the regulations on March 1, which has made some impacts on the domestic oil market.

04-23-2018 17:54:19

China April mixed aromatics imports hit a record high amid the rumors of consumption tax

According to the data from the General Administration of Customs, China other mixed aromatics imports were 1.6451 million mt in April, up by 53.19% MoM and up by 4.6% YoY. The exports was 300 mt, down by 81.25% and down by 72.72% YoY.

06-02-2017 14:40:17

China gasoline export would further slide amid overhauls and rumors on consumption tax

The customs data showed, in March China gasoline export went down by 21.17% MoM to 836,300 mt, up by 24.77% YoY.

05-04-2017 17:23:18

Consumption tax died out gradually causing the price drop of import aromatics

The high inventory in Cushing and geopolitical crisis in Afghan and North Korea posed international crude oil futures market fell. Brent dropped by $0.53/bbl to $55.36/bbl and the theoretical cost of import aromatics declined.

04-25-2017 18:00:04

Consumption tax on blending feedstock makes a great clamor in the markets at home and abroad

Recently, news about levying consumption tax on petroleum byproducts which including mixed aromatics, LCO and cutback asphalt made a great clamor in the markets home and abroad. It is said that CNY1,200-2,100/mt may be levied in May.

04-07-2017 17:58:33

Rumors on fuel consumption tax caused a harrowing blended oil market

Consumption tax that was rumored in the past few years aroused again. According to the latest news of JLC, it rumored that the relevant state departments will impose consumption tax on imported mixed aromatics, LCO and cutback bitumen since April 1st this year.

03-31-2017 16:50:02

Oil product consumption tax reform is looming

Since middle and late February, crude oil price fluctuated to be upward, and Brent broke $40/bbl. Bu the crude average price in ten working days was below $40/bbl, so the domestic oil product retail price adjustment was forced to stop for the fourth consecutive round.

03-16-2016 13:42:24

Coal chemical products likely to eye consumption tax down by 30%

Relevant authorities are studying preferential tax policy and a 30% cut in consumption tax on such products.

09-29-2015 16:39:00

Hike of consumption tax saves base oil price from dropping

On December 17th, JYD assessed the price index of base oil 150SN at 7,433, 63 lower than that of December 1st. The price index of base oil 400SN read 7,510, dropping 146 from December 1st.

12-22-2014 14:41:22

Shandong Releases New Consumption Tax Regulation to Reduce the Speculation on Oil Products

To further strengthen the consumption tax on oil products, Shandong issued "Shandong Tax Bureau statement on consumption tax management", to be implemented from 20th Oct 2014, is known to be stricter on oil products.

10-20-2014 16:15:13

Shandong Releases Oil Product Consumption Tax Policy

Shandong Taxation Bureau recently released the Announcement of Strengthening Oil Product Consumption Tax Management, aimed to tighten regulations on the deduction of oil product consumption tax.

10-15-2014 14:20:54

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