China May Adjust VAT on Silver in Imported Lead Concentrate

BEIJING (SMM): China may adjust the value added tax (VAT) imposed on silver contained in imported lead concentrate, either by export tax rebate or import tax exemption, SMM learns.

China imposes a 17% VAT on silver in imported lead concentrate, while the tax is not returned when silver ingot is exported.

This has squeezed margins of Chinese lead smelters, or compounded losses of those smelters already in the red.

Courtesy: www.metal.com