SHANGHAI, Mar. 11 (SMM) – According to the Baotou Municipal State Taxation Bureau, the Value Added Tax (VAT) invoice anti fake and control insurance system has been upgraded. The 143 rare earth enterprises engaging in rare earth ore products, smelting and separation and trading were included in the management of the Value Added Tax (VAT) invoice anti fake and control insurance system. Taxation departments can thus supervise the issuance of VAT invoice, product name writing, income and tax rate of rare earth enterprises.
Integrated VAT paid by the rare earth industry of Baotou and business income tax were RMB 2.18 billion in 2012, level with 2011 level. (Edited by SMM)