Export tax rebate standard of CNC machine tool carbide tool is raised

Recently, with the approval of the State Council, the Ministry of Finance and the State Administration of Taxation issued the Notice on Raising the Export Tax Rebate Rate of Certain Commodities, appropriately raising the export tax rebate rate of some labor-intensive, high-tech and high value-added commodities. China's implementation of the new export tax rebate standards, which involves the machine tool industry of goods only one, that is, CNC machine tool carbide cutting tools. The specific name is hard alloy knife and blade for metalworking machinery (for metalworking), commodity code 8208101000, the tax rebate rate will be increased to 11%.
Export tax rebate standards for cemented carbide cutting tools increased
The cutting tool industry has been encouraging the production of cemented carbide cutting tools for many years, the increase of export tax rebate standard, shows that the state's support to this is based on expanding domestic demand on the basis of improving the export competitiveness of enterprises, support enterprises to expand export of a policy measure, is conducive to promoting the steady and rapid development of the national economy.
Since the beginning of this year, the domestic economic situation has changed, and the industry situation has also been reversed. Domestic tool enterprises will face more intense competition. Because the domestic market share of high speed and high efficiency tool is only 10%, so for the domestic tool enterprises, their greater competition from foreign counterparts, such as Sandvik, Kenna, Shankao, etc.
Some foreign enterprises not only set up sales network in China, but also directly invest in building factories, aiming their products directly at high-end domestic users, causing great pressure to domestic enterprises. Since this year, there has been a decline in auto production and a slide in the related die industry products. It is estimated that in 2013, this line of city will be transmitted to the tool industry.