Received a Series of Amendment Proposals on Tax Regulations - Update on real estate projects in District 10
​The market today received a series of amendment proposals on tax regulations, of which fertilizer products are subject to change from non-VAT to VAT, which will enable fertilizer companies to reimburse the input VAT. Thanks to the news, fertilizer stocks rallied strongly: BFC +1.3%, DPM +1.5%, DCM +2.5%, LAS +9.6%. In our quick view, fertilizer manufacturers using input materials with 10% VAT charges like DCM and DPM will benefit the most.
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