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| China: Export rebate rate rises again |
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The Notice on Increasing the Export Tax Rebate Rates for Labor-Intensive Products was announced jointly by the Ministry of Finance and the State Administration of Taxation on 17 November 2008. A list of 3,770 items is included in the third export tax rebate increase this year as part of the government’s RMB4 trillion yuan (USD571.4 billion) economic stimulus package. The items include labor-intensive, mechanical and electrical products. The export rebate rate for plywood rose from 5% to 9%. The change will be effective as of 1 December 2008.
Local experts think that the adjustment of export tax rebate rates for labor-intensive products is helpful to relieve the tension of export-oriented enterprises’ shortage of capital and the pressure on labor-intensive export-oriented enterprises. (28/12/2008 - 14:23 ) |
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