Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The China Iron and Steel Association (CISA) announced that due to the force majeure caused by COVID-19, goods exported between January 1, 2020 to December 31, 2020 and are re-imported into the country within a year from date of exports, will be exempted from duties, value added tax and consumption tax. If any tax or dity was collected at the time of export, it will be refunded. 


The goods that would meet the requirements of Article 1, the refunded value-added process and the fee and tax shall be levied as per the regulations, if the export withdrawal is processed.


Chinese exporters who have claimed the deduction of import value-added tax and consumption tax will have to apply to the customs for the refund and the import consignee should submit the application before June 30,2021.


In the case of goods complying with Article 1, 2 and 4, the consignee of incoming work shall submit a written application for return to prove the reason of return is due to COVID-19. 


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