The Foreign Trade Division of the Ministry of Commerce, China Chamber of Commerce for Import and Export of Textiles jointly called a meeting with textile and garment enterprises on May 6 to understand the current situation in the textile sector.
The textile and apparel enterprises suggested of an increase in tax rebates at the meeting, which also discussed among other issues, stability of the RMB exchange rate and amend the “Statutory inspection products” directory.
At the meeting a senior official said that it will now be impossible to further increase the tax rebates to 17 percent, since levied tax rate of a number of textiles and apparel is less then 17 percent. However, the same would be conveyed to the decision making bodies.
The official added by saying that the enterprises should be mentally prepared and not expect any further increases in the current tax rebate rates.
Fibre2fashion News Desk - China
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