April 9, 2019
China reduced VAT on roundwood and lumber
VAT on some commodities and services has been reduced in order to stimulate the economy and support processing within the country. The measure was applied starting April 01, 2019. VAT on roundwood has been reduced from 11% to 10%, for lumber- from 16% to 13%. It is expected that this measure will spur woodworking enterprises to increase purchases and produce finished products, consequently, revive the market. Logs and lumber imports overview Lumber imports to China fell for two consecutive quarters to reach 5.9 ...
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