Home / Knowledge / News / Textiles / 'Chinese textile & apparel firms have heavy tax burden'
'Chinese textile & apparel firms have heavy tax burden'
16
Aug '13
Chinese textile and garment enterprises are subjected to heavy tax burden, according to Jiang Hui, chairman of China Chamber of Commerce for Import and Export of Textile and Apparel.
 
Speaking at the ‘2013 Esquel Sustainability Symposium - Be Green and Innovative’, Mr. Jiang said China’s textile and garment enterprises pay a variety of taxes which average about 35 percent.
 
He said many companies are willing to pay taxes, but several kinds of fees that are to be paid confuse the companies.
 
According to 2011 Misery Index survey report, Chinese industrial enterprises have to pay percent value-added tax (VAT) and income tax, as well as bear environmental protection and other costs.
 
To varying degrees, the Chinese firms are also required to pay urban construction tax, local education surcharge, disabled funds, property tax, stamp duty, vehicle tax and other numerous taxes.
 
Mr. Jiang said heavy taxes greatly dampen the enthusiasm of entrepreneurs to do something that really benefits the economy.
 
In 2012, China’s textile industry accounted for 11.5 percent of total industrial production. At present, China has the world’s largest and most complete industrial chain in the textile industrial system. It is also the world’s largest textile and garment producer and exporter.
 
Mr. Jiang said the Chinese textile industry is facing rising labour costs, the continued appreciation of the renminbi, and structural adjustment pressures. In addition, lack of funding, poor management, etc. are making it increasingly difficult for enterprises to survive.
 
According to a recent survey, 77 percent of the surveyed enterprises said Government should reduce the tax burden and solve the financing problem to support the textile industry.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Certification for Philippine garment firms availing GSP

Textiles | On 20th Jun 2018

Certification for Philippine garment firms availing GSP

The Philippines has adopted rules on securing certificate of...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search