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How About The Tire Renovation Project?
- Jul 26, 2017 -

According to the head of China Tyre Renovation and Utilization Association, China has classified the recycling of scrap tires as a key development area, and decided to support the recycling of waste tires in many aspects, such as enacting laws and regulations, giving tax concessions, and providing loan loans.

Professionals commented that our country is currently actively drafting the waste tires recycling regulations, the bill has been preliminarily formed, and will soon be published on the official website of the government. In addition, the State administration of quality Supervision, inspection and quarantine, according to China's accession to WTO commitments, has drafted the "renovation of the import of old tires to implement the record, inspection and supervision of the notice", is expected to be announced in the year.

Considering the use of waste tires recycling enterprises from farmers to buy scrap tires, because the VAT invoices can not be deducted from the situation, the State Ministry of Finance and Taxation administration is studying this tax measures, is expected to be introduced at the end of this year. Prior to this year, the Development and Reform Commission, the Ministry of Finance and the general Administration of Taxation jointly issued the revised catalogue of comprehensive utilization of resources in 2003 in January. "Catalogue" shows that the use of waste tires to produce rubber powder, recycled rubber, tires, carbon black, steel wire, waterproof materials, rubber sealing ring enterprises, as well as the tire renovation and production of tire tread plastic enterprises can enjoy tax concessions.

In addition, the State has increased the use of waste tires recycling enterprises funds support. Recently, the industry's two rubber powder production enterprises have applied to the development and Reform Commission of the government debt discount loans and national demonstration projects, total access to discount loans 150 million yuan. In the future, the state will also tilt the industry in terms of investment lending.