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.
Chinese textile and garment enterprises are subjected to heavy tax burden, according to #
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.
Chinese textile and garment enterprises are subjected to heavy tax burden, according to #
He said many companies are willing to pay taxes, but several kinds of fees that are to be paid confuse the companies.
Chinese textile and garment enterprises are subjected to heavy tax burden, according to #
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.
Chinese textile and garment enterprises are subjected to heavy tax burden, according to #
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.
Chinese textile and garment enterprises are subjected to heavy tax burden, according to #
Mr. Jiang said heavy taxes greatly dampen the enthusiasm of entrepreneurs to do something that really benefits the economy.
Chinese textile and garment enterprises are subjected to heavy tax burden, according to #
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.
Chinese textile and garment enterprises are subjected to heavy tax burden, according to #
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.
Chinese textile and garment enterprises are subjected to heavy tax burden, according to #
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.
Chinese textile and garment enterprises are subjected to heavy tax burden, according to #
Fibre2fashion News Desk - India