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VAT is to cut down from 16% to 13% since Apr 1 2019. Its direct impact on polyester profit results from the reduced rate and players’ buy and sell spread.Distribution of the profit squeezed from VAT cut depends on each sector’s bargaining powerFor example, if polyester plants hold stronger bargainin
On Mar 15, Premier Li Keqiang mentioned that VAT would be reduced from Apr 1 in the answers to reporters’ request. VAT of cotton may be decreased 1% to 9% and that of cotton yarn and grey fabric may be revised down 3% to 13%, which will lower the cost and increase profits of textile enterprises. Thu
