The Ministry Of Finance Disputes The Reduction Of Textile And Garment Export Tax Rebates.

By adjusting products

The Ministry of finance will adjust the export tax rebate rate of some colored products in recent years, focusing on the products with high energy consumption such as lead, zinc and aluminum and the scattered products of their industries.

In addition to non-ferrous metals,

At present, there are two main controversies about the textile tax.

First, after the Spring Festival, the 5 points of the export tax rebate for the whole textile item were put forward, but the relevant departments suggested that the reduction of the 5 points would have a great impact on the enterprises.

Two, under the background of high cotton prices, the tariff of imported cotton is abolished (currently, 1% or 900 thousand tons or more, 4%) within 890 thousand tons.

The Ministry of Commerce said that the reduction of textile export tax rebates was sooner or later, but the business sector after investigation found that this year is not the right time point. Due to a rare quarterly deficit in the first quarter of this year, it is expected that the reduction will also be suspended.

The abolition of imported cotton tariffs, because the current price of cotton to factories has been very high, about 8000 yuan per ton of cotton than domestic cotton, even if the abolition of tariffs can only be reduced by 300 yuan -400 yuan per ton, which has little impact on enterprises, so the possibility of abolition of cotton tariffs is smaller.

However, for the export tax rebate, the above said that in view of the excellent export situation of textile industry last year, China's export products are generally out of the shadow of the financial crisis. It is expected that the textile export tax rebate reduction will be reflected in the next wave.