SMM will quote our tax-included price assessments at a tax rate of 13% from April 1 when the value-added tax cut of 3 percentage points for China’s manufacturing sector takes effect.
Before April 1, SMM assessments will continue to be quoted at a VAT of 16%.
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![PPI 예상치 상회 및 ECB 금리 인상, 은 가격 5% 이상 급락 [SMM 일일 리뷰]](https://imgqn.smm.cn/usercenter/kLgYV20251217171736.jpg)

