SHANGHAI, Mar. 16 (SMM) – Lead-acid battery consumption tax should be delayed and even exempted in China to help relieve downward pressure faced by battery industry, China’s NPC representative Liu Baosheng said.
Lead-acid batteries are characterized by high safety, stead performance, wide application and low recycling costs. Scrap lead-acid batteries basically can be fully recycled and use rate of lead is above 95%, Liu added.
Chinese lead-acid battery producers registered below 4% profits during January-February 2015. The 4% battery consumption tax, effective from January 1, 2016, will certainly lead to loss-making in the whole industry, which will hurt battery makers’ producing interest.
Liu also advised to quicken enterprises’ structure adjustment and product upgrade through tax and fee system, such as giving value-added tax subsidy to those enterprises who abide by extended producer responsibility system.
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