The Ministry of Finance of People's Republic of China and the State Administration of Taxation had jointly issued an announcement on July 31, 2008, adjusting export tax rebate rate on textiles and apparel from 11 percent to 13 percent.
On October 21, export tax rebate rate was further raised to 14 percent. Export tax rebate on exported goods is offset or refunded to the exporters.
Export tax rebate is in line with WTO rules as well as an internationally accepted practice. Currently tax rebate rate is 14 percent and the gap between levied tax and tax rebate is 3 percent.
Fibre2fashion News Desk - China
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