New Regulations Promulgated, Textile And Machinery Industry Obvious Interests

A few days ago, reporters learned from the tax department of Shaoxing that in order to stabilize foreign trade export, lighten the burden of enterprises and simplify the procedures of tax rebate declaration, the export tax rebate policy of China has been greatly adjusted since July 1st.

This is especially true for Shaoxing's export enterprises, especially those with labor-intensive industries which rely heavily on export rebates.

Industry, the obvious good.

Textile and machinery industry is good.

From 1 to May this year, the export fabrics and amount of inspection and quarantine inspection by the Shaoxing inspection and Quarantine Bureau were 41 million 586 thousand meters and 59 million 468 thousand and 600 dollars respectively, the unit price was 1.43 US dollars per meter, down 31.68%, 40.32% and 14.69% respectively.

Insiders pointed out that although the textile industry can enjoy 13% of the high export tax rebates, many enterprises are having a hard time because of the weak export and narrow profit margins.

"The textile industry is more dependent on export tax rebates, and the implementation of the new export tax rebate regulations is an exciting thing."

Yesterday, Xu, manager of a textile and garment enterprise in Keqiao, told reporters that this adjustment relaxed the time limit for enterprises to declare tax rebates.

Enterprises are required to declare tax rebates within the first value-added tax declaration period within 90 days after the declaration of export of goods. The goods that are now exported to be exported can be declared tax rebates within the period of each value-added tax declaration before the month from April 30th to the next year.

In addition, goods that are related to the production and operation activities of their own businesses are added, and some export goods are taxed to tax exemption.

It mainly includes export enterprises failing to declare tax rebates within the prescribed time limit, and goods that have declared tax rebates but do not make up the relevant certificates to the tax authorities within the prescribed time limit. This will not be refunded, and will be adjusted to tax exemption according to the regulations of domestic sales tax.

Shengzhou is engaged in

Wei manager told reporters that the machinery industry is a labor-intensive industry. Currently, it can enjoy 17% of the high export tax rebates, but this year's operating conditions are not ideal. Their net profit in the first half of the year has dropped by 32%, especially for some small businesses, which can only rely on export tax rebates.

The new export tax rebate rule is very biased towards small and medium enterprises, which makes them see hope.

For example, by adjusting the scope of export goods and the conditions of production enterprises in advance, the export contract and the sales ledger will be declared in advance, and the scope of the goods will be extended to pportation facilities and machinery and equipment with a production period of more than 1 years, and the conditions for the export scale to be more than 30 million dollars will be abolished. The assets of the enterprise will be changed to 3 times the net assets of the previous year than the value added tax of the same period of export goods and the consumption tax refund amount.

Small businesses and new businesses benefit a lot.

The new export tax rebate rules have integrated all the existing effective regulations on export rebates, and on the basis of maintaining our export goods value-added tax and consumption tax rebate system basically stable.

More problems were adjusted.

The reporter understands that in addition to some of the larger adjustment policies mentioned above, there are also several aspects that benefit export enterprises.

For example, adjust the tax refund information of foreign trade enterprises.

For example, a small production enterprise and a new production enterprise with a new export business have been abolished for a period of 12 months.

The current export tax rebate policy stipulates that the export tax of the new export businesses and small export enterprises with a tax refund period of 12 months shall be temporarily withdrawn from the Treasury during the period of examination.

The adjustment abolished the provision, which would completely defrost the tax refund.