Home / Knowledge / News / Textiles / China hikes export tax rebate benefits to textile sector

China hikes export tax rebate benefits to textile sector

03
Jul '12

The Chinese government has increased benefits of export tax rebates available to exporters from labour intensive sectors like textiles and machinery.

The benefits have been hiked because, despite the textile sector drawing 13 percent and machinery industry enjoying 17 percent export rebate, they have not been faring well.

Earlier, companies could apply for tax refund under VAT only after 90 days of declaration of exported goods. With the new adjustment, firms can apply for tax returns in the subsequent month, after the month in which the goods were exported. This new benefit is applicable till April 30.

The other sector expected to be benefited is the machinery sector, which includes the textile machinery industry.

The new adjustment has abolished the provision of 12 months corporate audit period for small manufacturing enterprises. This adjustment will fully provide free tax rebates for new business of export companies and small export enterprises.

Fibre2fashion News Desk - China


Must ReadView All

Pic: Ritu Manoj Jethani / Shutterstock.com

Apparel/Garments | On 31st Jul 2021

US firm Steve Madden moves production to Mexico & Brazil from China

As supply chain disruption remains a significant challenge, American...

Pic: GBG USA

Apparel/Garments | On 31st Jul 2021

Apparel & footwear firm GBG USA files for bankruptcy protection

GBG USA, an indirect wholly owned subsidiary of Global Brands Group...

Pic: Shutterstock

Apparel/Garments | On 31st Jul 2021

Asian garment industry market concentration, consolidation rise: ILO

Although Asia's garment market rose in size in value terms before the ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Zayed Moyeen,

Zayed Moyeen

Far East Knitting and Dyeing Industries LTD (FEKDIL) was established in...

Mumin Can Eker,

Mumin Can Eker

Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

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


July 2021

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


Advanced Search