Home / Knowledge / News / Textiles / Govt to raise export drawback rate
Govt to raise export drawback rate
22
Oct '08
Ministry of Finance, State Administration of Taxation announced yesterday, October 21, that China will increase export drawback on products of high labor-intensive and high-tech value-added industries from November 1, 2008.

The officials from Tax Department of Ministry of Finance and State Administration of Taxation said that this step will provide some relief to the exporters and also improve export competitiveness.

According to the notice released, drawback rate on exports of textiles, clothing and toys will be increased to 14 percent. Besides, rate on sewing machines will also be raised considerably.

The Chinese exports have already been adversely affected by international economic crisis and the exports are projected to decline further in future.

Thus, experts said that if the Government does not take measures, economic development of the country will dwindle significantly.

Therefore, it is necessary to make appropriate adjustments through various fiscal policies, so as to help enterprises tide over current difficulties.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 29th Mar 2017

'Increase in demand for organic designer linen'

There has been an increase in the demand for organic designer linen....

Apparel/Garments | On 29th Mar 2017

Jo-Ann launches 'Buy Online, Pick Up in Store' service

Jo-Ann Fabric and Craft Stores, a specialty retailer of crafts and...

Courtesy: Pratibha Syntex

Textiles | On 29th Mar 2017

Pratibha Syntex wins C&A's Best Global Supplier Award

Pratibha Syntex, a leading manufacturer and exporter of knitted...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Eric Scholler
Groz-Beckert

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search