Bauxite prices jump on China's tax evasion clampdown
Published: Friday, 21 April 2017
Beijing has intensified efforts to clamp down on tax evasion for both imports and exports in China. As a result, sellers who previously were resorting to various ways to avoid paying VAT have now raised their bauxite prices to include the tax in order to avoid prosecution.
A new wave of reinforced government checks on export
documents to ensure the legally due value-added tax (VAT) is
paid have lifted China-origin bauxite prices over the past two
As a result of the checks, which started about two weeks ago
in Shanxi, Henan and Tianjin, many bauxite suppliers...