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Export tax rebates to be raised on 553 more products
31
Dec '08
On December 29, 2008, the Ministry of Finance and State Administration of Taxation announced that export tax rebate rate on mechanical electrical products (technological content and high value-added) will be increased from January 1, 2009.

This is yet another increase after the export tax rebate rate was raised on 3770 commodities on December 1 this year and also the fourth increase of export tax rebate rate within this year.

According to the joint notice issued by the Ministry of Finance and the State Administration of Taxation, this adjustment of export tax rebate rate mainly relates to 553 kinds of products, of which, export tax rebate rate of motorcycles, sewing machines and other products will be increased from 13 percent to 14 percent.

China's dependence on foreign trade is as high as 60 percent and 2008 has turned out to be a year with the maximum twists and turns that China's foreign trade has ever experienced in the past 10 years. The year has also witnessed frequent adjustments in trade policy.

Fibre2fashion News Desk - China

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