End Export Tax Rebate Rate Adjustment Affect China's Toy Enterprises
October 21, 2008 Ministry of Finance and State Administration of Taxation issued to improve the export tax rebate rate of some commodities notice
. Increase export tax rebate rate of toys including customs product code 9503001000-9503009000 toys, customs commodity code 9504100000 the television game console (refer to package for use with television receivers). The toy export tax rebate rate to 14%, an increase of three percentage points higher than the original. Execution time since November 1, 2008 onwards. Specific execution time, the "declaration of export goods (export tax rebates only)" Customs export date indicated.
Related links: on the improvement of export tax rebate rate of some commodities (Caishui [2008] 138)
The export tax rebate rate adjustment
This raised the export tax rebate of goods involved in 3486, accounting for all goods in the Customs Tariff of the total number of 25.8%. Since 2004, China is the export tax rebate policy adjustment related to tax the largest number, one with the largest. The export tax rebate rate adjustment mainly include two aspects: first, appropriately increasing the textile, clothing, toys and other labor-intensive export tax rebate rate; second is to improve the anti-AIDS drugs and other high-tech, high value-added exports of goods tax rate.
The large-scale adjustment of export tax rebate rate has once again highlighted the Chinese government's "capital growth" of the macro-control intent, but also following the recent increase in commercial bank lending, the implementation of the new foreign exchange regulations and two down "double rate" after another major regulatory initiatives.
Related links: Nov. 1 to implement the list of goods the export tax rebate rate
Adjustment of export tax rebate rate Reasons
This year, by domestic inflation, raw material prices, labor costs, the appreciation of the yuan and other factors, increased pressure on the domestic export-oriented enterprises; At the same time, global economic brink of recession, the market demand continues to shrink, but also to bring China's exports the larger obstacles. Hardest hit by these adverse factors is textiles, clothing, toys and other domestic labor-intensive industries. According to the National SME Development and Reform Commission statistics released by the Division early in August showed that: in 2008 a considerable part of strand breaks and other financial difficulties faced by SMEs in the country for more than about one-tenth the size of the industrial added value of SMEs in the first half of this year, growing at close to 30 % year on year reduction of 15%. Customs statistics show that, 1 September toys exported to the cumulative growth rate of decline was 16.3 percentage points. In China, export-oriented enterprises are mainly distributed in the Yangtze River Delta and Pearl River Delta area, some enterprises in these areas recently appeared in bankruptcy and other issues. The negative impact on China's real economy.
Therefore, to address the current challenges facing our country's economic growth, particularly export growth slowing, export enterprises significantly reduce the profit situation, raised the export tax rebate rate by way of operating pressure Jianqing export enterprises, export promotion, enterprise and self-development, improve the response to risk ability to become our government to "capital growth" of the inevitable choice.
End Export Tax Rebate Rate Adjustment Affect China's Toy Enterprises
By: qoqo
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