China Drying Network was informed by insiders of Sinopec that Sinopec issued guidance on its consumption tax policy to its refineries and sales companies on February 8 after extensive communication and consultation with the State Administration of Taxation. This document is detailed in the attached table. Including pyrolysis of C5, C9, piperylene and other 30 types of petrochemical products temporarily do not declare consumption tax. It is reported that this document belongs to Sinopec's internal documents and is not targeted at all petrochemical companies such as PetroChina and CNOOC. Industry analysts believe that the failure to declare consumption tax will greatly reduce the pressure of Sinopec to pay consumption tax, and 30 categories of chemicals will pay less than 1,000 yuan in consumption tax per ton, which will increase refinery profits and increase corporate enthusiasm for production. In addition, it has certain protection significance for Sinopec's cracking sales of C5 and C9, and some downstream companies will also get decompression on costs. Sinopec is the leading oil refinery company. This document has great reference value. The State Administration of Taxation's follow-up details may be used as a reference. Only for Sinopec's subordinate refineries On November 6, 2012, the State Administration of Taxation published No. 47 “Announcement on Issues Concerning Consumption Tax Related Policy Issuesâ€, which stated that the New Deal on refined oil consumption tax was implemented on January 1, but since the publication of the document, there has been no specific detailed rule. Bring some influence to the domestic oil market. On February 8, Sinopec issued guidance on implementing the relevant matters of the "State Administration of Taxation on Issues concerning Consumption Tax Related Policy Issues." According to the above guidance received by the reporter from Zhongyu Information, Sinopec's advice to the State Administration of Taxation on communication and reporting, Bulletin No. 47 did not expand the levy range for refined oil excise taxes, and chemical products still did not belong to the applicable range of refined oil consumption tax. The annexed table of the document detailedly includes 30 petrochemical products such as pyrolysis C5, C9, and piperylene that are not declared as consumption tax. In addition, the guidance of Sinopec also proposed: 'The petrochemical products that do not have industry standards or national standards, but cannot directly modulate the excise taxable oil products, including petroleum acids, inorganic materials, and 30 other chemical products listed in the schedule, are still temporary. Do not declare consumption tax. For those petrochemical products that do not have industry standards or national standards and are used as chemical raw materials for the production of chemical products by the subsidiaries of China Petrochemical Corporation (excluding consumption taxable and taxable oil products), the consumption tax is still not declared. ' Treasurer Island analyst Jia Xiaojing told the reporter of the “Daily Economic News†that the above guidance is not a unified document issued by the State Administration of Taxation, which is interpreted and further implemented by Sinopec’s policy on the State Administration of Taxation. It only targets Sinopec’s subordinate refinery and Sinopec joint venture production enterprises. Excluding other companies such as PetroChina. National implementation is more likely 'The petrochemical products produced by Sinopec will not be affected by the consumption tax, and they are very good for corporate profits and production enthusiasm. 'Yong Feng, an information analyst at Zhuo Chuang said. With the implementation of the above guidance, Sinopec’s subsidiaries and joint ventures will eliminate some of the tax expenses. Jia Xiaojing said that if the consumption tax is levied, the standard is expected to be between 1 yuan/liter and 1200 yuan/1500 yuan/ton. Prior to this, all chemical products of Sinopec had no consumption tax. Liu Feng said that taking pure benzene as an example, in 2012, the output of pure benzene in Sinopec was approximately 6.626 million tons. If the consumption tax is levied at 1 yuan/liter, Sinopec will pay 5.8 billion yuan in one year. Since April of last year, Sinopec Chemicals Co., Ltd. saw its first monthly loss in 2012. In May, July and July, the loss was intensified. The cumulative loss in the three months was 3.3 billion yuan. Although the chemical sector as a whole has achieved monthly earnings since August, it is still far below the monthly profit level for the same period in 2011. Chungzhong Petrochemical Network C5 analyst Xin Baokun said that due to the fact that Sinopec currently has very few deep-processing units, only two separate C5 separators for Shanghai Petrochemical and a set of separators to be built by Yanshan Petrochemical will be used for cracking C5. The internals of cracking C9 will basically pass through hydrogenation equipment. For consumption, most products rely on external companies for deep processing. If the consumption tax is imposed on the external companies, it will impair the production enthusiasm of external companies and thus affect the sales of cracking C5 and C9. This has certain protection significance for Sinopec cracking C5 and C9 sales. According to statistics, in 2012, the total output of C5 and C9 in China continued to grow, totaling more than 3.4 million tons. In 2013, it is expected to exceed 4 million tons. As a result, the consumption tax for C5 and C9 cracking will reach 6 billion yuan. At present, the implementation of the guidance for the Sinopec affiliated company, Zhongyu Information analyst Zhang Yonghao said that other oil companies will use this as a blueprint, although the State Administration of Taxation has not expressly issued the implementation details, but consider Sinopec and other companies in the energy industry strong words Right, and the above guidelines were issued through the reporting process, the State Administration of Taxation follow-up details or will use this as a reference, and ultimately the possibility of implementation in the country is greater. Downstream business pressure relief Due to the industry status of PetroChina and Sinopec, the consumption tax will be passed on to downstream manufacturers. Without taxation, the production costs of these more than 30 kinds of chemical products will be stabilized, and downstream users' purchases can also be step-by-step, reducing the pressure of increasing costs. It is reported that at present, the domestic cracking C5, C9 overall industrial chain is not good. After experiencing high growth in 2010 and entering the adjustment period in the second half of 2011, the profits of deep-processing companies have also entered the era of Bolitsu from the previous high profits. According to the monitoring of Anxun SiSheng Energy, on January 15th, the operating rate of the national aromatographic device was 52.28%, which was 12.5 percentage points lower than the average operating rate of 64.8% before the consumption tax New Deal was announced. In early January, nearly half of the aromatization refineries in Shandong Province were suspended. Ma Haiying said that since the State Administration of Taxation has not issued any specific rules, many related products such as C5, C9, and C10 have been sold lightly, and they are mostly sold by way of invoicing. PetroChina and Sinopec cracking C9 also started pushing prices on January 1st. The marketers' mentality is not clear, the actual operation is light, and there are many wait-and-see attitudes. Gao Zhong, an analyst at Longzhong Petrochemical Network C9, believes that if the excise tax is levied at this time, it will increase the cost of cracking C5 and C9 deep processing, and on the other hand it will also increase the pressure on the company's capital turnover. Taking cracking C5 as an example, it will increase by 1,500 yuan per ton. This is obviously a pressure for private enterprises. Some companies once reported that years ago, if some companies in the industry were to suspend production or switch to other industries, the development of C5 and C9 industries under high costs would be greatly constrained, and the plight of downstream companies would be forced to lower prices by the two major oil giants. Liu Feng said that if the new consumption tax is to be implemented in accordance with the requirements of Document 47, all aromatization, isomerization, and alkylation enterprises in the country will gradually disappear, and the employment of personnel and local taxation problems will be difficult to solve. In this regard, the aromatics solvent oil refinery related sources said that the cracking of C9, C10 heavy aromatics temporarily not levied consumption tax is undoubtedly good news. Since January 1, since the new consumption tax has always lacked clear implementation rules, it has had to stop or reduce production to cope with possible cost increases. However, Ma Haiying believes that for the hydrogenation of C9, aromatic solvent oil production plants, although their raw materials will not levied consumption tax, but the sale of products may be within the scope of the levy, which is equivalent to the consumption tax will be transferred to rely on Sinopec raw material production On the refinery, the Sinopec refinery's declaration of consumption tax was reduced. If the downstream enterprises produce petrochemical products that do not have industry standards, international standards, or can not determine the user's use and can be used to directly modulate the consumption taxable taxable oil products, they must turn over the consumption tax. Valve Body,Valve Seat,Mud Pump Valve,Oilwell Mud Pump Henan Dongfanglong Machine Manufacture Co., Ltd , https://www.dfloilm.com