Xinjiang self-produced stone enterprises can enjoy tax preferential policies

Recently, the State Administration of Taxation of the Autonomous Region has adjusted the VAT rate imposed on some natural stone products produced by Xinjiang stone enterprises, and calculated the value-added tax according to the simple method of 6%. The self-produced stone enterprises in the region can enjoy this preferential policy.

It is understood that since Xinjiang stone is mainly an integrated enterprise of mining, processing and sales, the input tax deduction is rare, and the target market is outside the zone, the VAT rate of product sales is higher than that of the mainland. Different tax burdens and high logistics cost make Xinjiang stone products inferior in domestic engineering bidding and sales.

In order to promote the development of Xinjiang's stone industry, the Autonomous Region Building Materials Office and the Xinjiang Stone Association have proposed to the Autonomous Region's State Administration of Taxation to levy a preferential VAT policy.
 

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