Bauxite prices jump on China's tax evasion clampdown

By Yoke Wong
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 weeks.

As a result of the checks, which started about two weeks ago in Shanxi, Henan and Tianjin, many bauxite suppliers...

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