Implementation of new regulations of the export tax rebate of textile machinery industry significantly positive

A few days ago, we learned from the tax department, to stabilize the foreign trade and exports, reduce the burden on enterprises, and simplify the tax rebate reporting process, from July 1; China's export tax rebate policy will have big adjustment. some larger labor-intensive industries depended on the export tax rebate of the such as Textile Machine industry is significantly positive.

"Textile industry dependent on export tax rebates, the implementation of the new regulations of the export tax rebate is an exciting thing." Yesterday a textile and garment enterprises Manager Xu told reporters that the adjustment to relax the companies declaring deadline of the tax rebate. The original provisions enterprise is required in the export of goods declaration 90 days after a VAT tax during the reporting period to declare the tax rebate.

In addition, it added related to the goods that the enterprise production be deemed to own, business activities, and part of the export goods duty-free have the tax adjustment.

The export tax rebate new regulations is very biased in favor of SMEs, made they see hopes. For example, the policy by adjusting the current declaration of tax rebate export goods with export contracts and sale of a breakdown in advance the scope and conditions of the production enterprises, the scope of the goods will expand the means of transport and machinery and equipment of the production cycle of more than 1 year, and the elimination of export scale conditions more than $ 30 million will be enterprises with net assets of certain assets changed last year than the same period exports of goods VAT and consumption tax rebates, and three times.

Small businesses, new businesses can benefit from it, definitely. The integration of the new regulation of the export tax rebate on the export tax rebate to all force requirements and to maintain China's export VAT on the basis of the basic stability of the consumption tax rebate system has been adjusted to reflect more problems for export enterprises.