Chinese customs 'to charge VAT on gold content in imported copper anode'

China’s General Administration of Customs has started to charge a value-added tax (VAT) for the gold contained in imported copper anodes despite market opposition, Fastmarkets has learned.

Copper anode, blister copper and copper ingot are currently imported to China under the Harmonized System (HS) code 74020000, a category defined as “unrefined copper; copper anode for electrolytic refining,” according to the customs website.

Since 2009 November, the Chinese customs agency has been waiving the VAT for gold contained in imported unrefined copper in the shape of ingots, according to its No 69...

Published

Julian Luk

October 16, 2020

07:15 GMT

Hong Kong