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Increase in drawback rates brings windfall to exporters
Feb '09
Export tax rebate rate of textiles and garment has once again been increased from 14 percent to 15 percent, and which is the fourth increase in the last eight months. Based on estimates of total exports in 2008, the latest increase in the tax rebate rate will directly increase the profits of enterprises of Dongguan city by about 700 million Yuan.

According to the State Statistics Bureau in Dongguan City, 4377 export enterprises in Dongguan city have been directly benefited from the four adjustments of export tax refund rate since 2008 and accounted for 74.7 percent of the total enterprises that claimed export tax refund in 2008.

The main commodities to benefit from the increase in export tax rebates are mechanical and electrical products, toys, games, sports goods, textile raw materials and textile products, furniture, shoes and hats.

Fibre2fashion News Desk - China

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