Event: Recently, the Ministry of Finance and the State Administration of Taxation issued the catalogue of value added tax preferences for products and services for comprehensive utilization of resources (2022 Edition).
Adjust the proportion of tax rebates, standardize standards, refine fields, and promote the sustainable and healthy development of the comprehensive utilization of resources industry. Compared with the 2015 version, it has been adjusted and revised in terms of value-added tax rebate ratio, technical standard requirements, comprehensively utilized resources and product types. The classification of five categories in 2015 edition is continued, mainly revised in the three wastes, renewable resources, agricultural and forestry residues and other three fields.
Standardize industrial technical standards and guide the high-quality development of the industry. The revision mainly focuses on the following three aspects, including: 1) adjusting the value-added tax rebate ratio of some resources and corresponding products, increasing the tax rebate ratio of reclaimed water, oil pollution reuse, waste battery recycling and waste plastic recycling industries, and reducing the tax rebate ratio of waste motor and waste catalyst smelting and purification industries. 2) It standardizes the technical standards of the resource recycling industry, puts forward new requirements for the technical indicators of enterprises participating in tax rebate, and improves the industry standards. 3) It has refined the types of resources involved and corresponding products, and expanded the types of tax refundable products and resources in some industries.
The proportion of tax rebate was adjusted to guide the industrial layout, and support was strengthened in the fields of sewage treatment, waste batteries, waste plastics and agricultural and forestry wastes. In this round, the tax rebate support for sewage / sludge disposal, waste batteries, plastic recycling, fiber recycling and agricultural and forestry waste industries has been strengthened; The incentive policy of 100% tax rebate shall be maintained in the fields of waste fermentation, industrial waste heat power generation and energy utilization of agricultural waste. 1) Reuse of three wastes: increase the tax rebate ratio of sewage treatment and oil pollution utilization, and continue the strong policy support of biogas utilization. The catalogue points out that A. the tax rebate proportion of general sewage recycling industry has increased from 50% to 70%, and the tax rebate proportion of sludge disposal and utilization has increased from 70% to 90%. b. We will continue to support the 100% tax rebate for biogas utilization and industrial waste heat power generation industry. c. New tax rebate projects for the production of ethanol from converter gas, industrial waste gas and other resources. d. Standardize and improve the technical requirements of construction waste, coal gangue reuse and other industries. 2) Renewable resources: support the waste battery recycling and plastic recycling industry, and standardize the industrial technical standards. The catalogue points out that A. waste battery recycling industry: increase tax rebate and standardize industrial technical standards. The tax rebate proportion of the waste battery recycling industry was increased from 30% to 50%, which increased the metal recovery rate of enterprises and the recycling rate of industrial wastewater, and guided the standardization and standardization of the battery recycling industry. b. Plastic recycling industry: increase support, put forward more scientific production process requirements, and help the industry scale and cluster. The proportion of tax rebate was increased from 50% to 70%, and the requirements of production process were put forward to guide the scientific technological process of enterprises, promote the large-scale industrialization and improve the production efficiency of the industry. c. Fiber regeneration: increase the proportion of tax rebate and broaden the sources and corresponding products. The proportion of tax rebate was increased from 50% to 70%, and resources and corresponding product categories were increased. 3) Utilization of agricultural and forestry residues: continue support and increase product types. The catalogue points out that A. continue to support. For the reuse industry in the energy direction, the tax rebate ratio of 100% has been continued, and for the reuse industry in the non energy direction, the tax rebate ratio has been increased from 70% to 90%. b. Increase product categories.
The proportion of tax rebate increased by 20%, and the net interest rate of the project increased by 0.86pct ~ 1.17pct. According to the average rate of return of sewage / sludge treatment, recycled plastics, battery recycling and other industries, considering the profitability of the project under the two scenarios of gross profit rate of 50% / net profit rate of 25% and gross profit rate of 30% / net profit rate of 10%, when the proportion of VAT rebate increases by 20%, the increase range of net profit rate of the project is 1.17pct and 0.86pct respectively, which effectively enhances the profitability of the enterprise.
This catalog adjustment will increase support for battery recycling, recycled plastics, sewage treatment, agricultural and forestry waste and other sectors, and continue support for biogas utilization and waste treatment. We mainly recommend:
[renewable resources] power battery recycling: Miracle Automation Engineering Co.Ltd(002009) ; Recycled plastics: Shandong Intco Recycling Resources Co.Ltd(688087) , Beijing Sanlian Hope Shin-Gosentechnical Service Co.Ltd(300384) . Hazardous waste recycling: Beijing Geoenviron Engineering & Technology Inc(603588) . [water] China water, Jiangxi Hongcheng Environment Co.Ltd(600461) . [waste incineration] Everbright environment, Dynagreen Environmental Protection Group Co.Ltd(601330) , Grandblue Environment Co.Ltd(600323) ; It is suggested to pay attention to: Zhejiang Weiming Environment Protection Co.Ltd(603568) , Chongqing Sanfeng Environment Group Corp.Ltd(601827) . [biogas utilization] Henan Bccy Environmental Energy Co.Ltd(300614) .
Risk tip: the policy promotion is lower than expected, the financial expenditure is lower than expected, and the industry competition is intensified.
