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On October 17,, COFCO issued a prompt announcement on the tax policy of non-food fuel ethanolThe company was informed of the Ministry of Finance, the State Administration of Taxation jointly issued on the non-food fuel ethanol tax policy notice contentIn accordance with the spirit of approval by the State Council, the sale of fuel ethanol produced from non-grain production by COFCO Biochemistry (Anhui) Co., Ltdshall be subject to the vat-based tax-free and consumption tax exemptionThis policy shall be implemented from the date of the company's external sales of non-food fuel ethanolXQ8
According to the notice, the company sells cassava as raw material selling fuel ethanol can enjoy the value-added tax first and consumption tax exemption policyXQ8
In the third quarter of 2014, the company's net profit attributable to shareholders of listed companies decreased by 35%-48% compared with the same period, due to the decline in the standard of grain-fuel ethanol subsidy and the low market price of products such as citric acid and lysineXQ8October 17, Cofco Bio-Chemical issued a prompt announcement on the tax policy of non-food fuel ethanolThe company was informed of the Ministry of Finance, the State Administration of Taxation jointly issued on the non-food fuel ethanol tax policy notice contentIn accordance with the spirit of approval by the State Council, the sale of fuel ethanol produced from non-grain production by COFCO Biochemistry (Anhui) Co., Ltdshall be subject to the vat-based tax-free and consumption tax exemption This policy shall be implemented from the date of the company's external sales of non-food fuel ethanol XQ8
According to the notice, the company sells cassava as raw material selling fuel ethanol can enjoy the value-added tax first and consumption tax exemption policy XQ8
In the third quarter of 2014, the company's net profit attributable to shareholders of listed companies decreased by 35%-48% compared with the same period, due to the decline in the standard of grain-fuel ethanol subsidy and the low market price of products such as citric acid and lysine XQ8
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