The National Committee of the People’s Republic of China decides to shorten the tax rebate procedure for export enterprises with high credit ratings and good tax records. The tax rebate rate for some goods will increase from 1st.Nov.2018.

On October 8th, Premier Li Keqiang presided over the State Council executive meeting to determine measures to improve the export tax rebate policy and speed up the tax rebate process, so as to reduce burdens of the company and maintain stable growth of foreign trade.

The meeting pointed out that the implementation of export tax rebates is in line with the rules of the World Trade Organization. Further improving the export tax rebate policy and speeding up the export tax rebate process will help deepen the structural reform of the supply side and promote the cost reduction of China economy. It will also help to cope with the current complicated international situation and maintain stable growth of foreign trade. 

The meeting decided that from November 1st, 2018, in accordance with the principle of structural adjustment, with reference to international common practice, the current export tax rebate rate for goods is 15% and part of 13% will be raised to 16%; 9% will be raised to 10%, some of them will be raised to 13%; 5% will be raised to 6%, and some will be raised to 10%. The export tax rebate rate for products with high energy consumption, high pollution, resource products and tasks facing de-capacity remains unchanged. Further simplifying the tax system, the tax rebate rate has been reduced from the original seven categories to five categories. At the same time, the meeting also determined that in order to further speed up the tax rebate process, the export enterprises with high credit ratings and good tax records will simplify the procedures and shorten the time for tax refunds, and fully implement the electronic tax refund declaration to improve the efficiency of tax refund review. Optimize the tax refund service, help enterprises to collect the documents and declare the tax refund in time, and realize the full coverage of the electronic return network as soon as possible. Encourage foreign trade integrated service enterprises to provide tax refund services for small and medium-sized enterprises. Resolutely crack down on fraudulent export tax rebates. By adopting the above measures, the average time for tax refunds will be reduced from the current 13 working days to 10 working days before the end of 2018.

The detail information of Chinese version, please click Read more: http://news.cctv.com/2018/10/09/ARTIsKO7vDMXchYZlJ9SRPJH181009.shtml