"The 80 major steel makers were due to pay 89.96 billion yuan in taxes and fees in 2012, but they actually paid a total of 98.02 billion yuan, as some local tax authorities urged the manufacturers to prepay taxes for the next two years in order to meet their 2012 tax targets," according to Qu.
It is unlikely that the Chinese government has been subsidizing its steel sector, as exports of steel products - which are blamed for high energy consumption and pollution - are in fact not encouraged by the government, Xu Xiangchun, information director with industry consultancy mysteel.com, told the Global Times Thursday.
Feedback
RSS
