China restores 2% lithium-ion battery tax after 11-year exemption

From ESS News China has begun collecting consumption tax on lithium-ion batteries from Sept. 1, ending an exemption that had been in place for more than a decade and adding a new cost component for domestic battery energy storage products. The measure is a legacy tax returning to the industry. China added batteries to its consumption tax regime in February 2015 with a statutory rate of 4%, but exempted lithium-ion batteries, lithium primary batteries, nickel-metal hydride batteries, fuel cells, solar cells and vanadium redox flow batteries as part of policies supporting emerging clean-energy industries. ...

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