On October 8, Premier Li Keqiang chaired an executive meeting of the State Council to determine and improve the export tax rebate policy and speed up the progress of tax rebates.
The meeting pointed out that the implementation of export tax rebates is in line with WTO rules, further improving export tax rebate policies, and accelerating the progress of tax rebates are conducive to deepening supply-side structural reform and promoting cost reduction in the real economy. It is also conducive to coping with complex international situations and maintaining the stability of foreign trade. increase.
The meeting decided that starting from November 1, in accordance with the principle of structural adjustment and with reference to common international practices, the current export tax rebate rate for goods is 15% and some 13% will be increased to 16%; 9% will be increased to 10% , some of which are raised to 13%; some of which are raised to 5% to 6%, and some to 10%. The tax rebate rate for products with “high energy consumption, high energy consumption and high investment” and products facing the task of reducing overcapacity will remain unchanged. The tax system will be further simplified and the tax refund rate will be reduced from seven levels to five levels.
The meeting also decided to simplify procedures for export enterprises with good credit and tax records, shorten tax refund time, fully implement paperless tax refund declaration, and improve review efficiency. Efforts should be made to achieve full online coverage of electronic refunds as soon as possible, and resolutely crack down on fraudulent export tax refunds. The average time for processing tax refunds will be shortened from 13 working days to 10 working days before the end of the year.
The meeting also discussed other topics. (Title: The export tax rebate rate for some products will be increased from November 1)
