The State Raises The Export Rebate Rate Of Textiles And Garments.

354 enterprises in Yiwu will receive a tax allowance of 160 million yuan.

The reporter recently learned from the import and export tax administration department of the State Taxation Bureau that China will adjust the export tax rebate rate of some textiles and garments.

Affected by this policy, there will be 354 enterprises benefiting this year. Compared with the tax rebate rate adjustment, enterprises can increase the export tax refund (Exemption) tax by 160 million yuan.

According to the head of the import and export tax administration department of the State Administration of Taxation, according to the relevant regulations of the Ministry of Finance and the State Administration of Taxation on adjusting the export tax rebate rate of some textiles and garments, the export tax rebate rate has been adjusted since August 1st of this year. Besides, the export tax rebates of pine nuts, some pesticide products, some organic arsenic products, paclitaxel and its products, rosin, silver, zinc zero, some coating products, some battery products and carbon anode have been cancelled since August 1st this year.

The official said that the adjustment will increase the export tax rebate rate of some textiles and clothing from 11% to 13%, which will have a greater impact on our city.

According to relevant statistics, the number of commodity codes involved in this increase is 414, with 354 enterprises with import and export operation rights (including 160 manufacturing enterprises and 194 foreign trade enterprises) benefiting from the increase of the tax rebate rate, which mainly includes clothing, textile products and Christmas products.

The official stressed that the export rebate rate of some products such as textiles and clothing can directly reduce the export cost and increase the profits of enterprises, which will help to lighten the export pressure faced by textile and other industries, alleviate the shortage of funds caused by tight monetary policy to some enterprises, and play an active role in improving the export competitiveness of textiles and clothing, thereby supporting the healthy development of SMEs, helping competitive enterprises survive the difficulties of survival and further promoting the steady growth of Yiwu's foreign trade economy.