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ReturnChina to restore export rebate rate of some textile commodities
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admin
PublishDate：
2008-07-31 15:45:00
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China government will this week restore the export tax rebate for textiles and clothing to 13 pct from the current 11 pct, the State Administration of Taxation said in a statement on its website.According to the circular jointly released by the Ministry of Finance and the State Administration, export rebate of mulberry silk yarn and fabric (5004000000-5007909099 ) will be also lifted to 13 pct.
It said the increase in the tax rebate has won State Council approval and will take effect on Friday (August 1st). Beijing has long been expected to ease its trade controls to help the country's exporters, especially the textile industry whose profit margins are being squeezed by a rising yuan and higher production costs.
The government cut the export tax rebate twice, in 2005 and 2006, as part of an effort to reduce a rapidly increasing trade surplus.
Source: State Administration of Taxation
It said the increase in the tax rebate has won State Council approval and will take effect on Friday (August 1st). Beijing has long been expected to ease its trade controls to help the country's exporters, especially the textile industry whose profit margins are being squeezed by a rising yuan and higher production costs.
The government cut the export tax rebate twice, in 2005 and 2006, as part of an effort to reduce a rapidly increasing trade surplus.
Source: State Administration of Taxation
