Export Tax Rebate Rate Increases Cangnan Clothing Enterprises Cost Savings 16 Million

Recently, the Ministry of Finance and the General Administration of Taxation stipulate that since August 1st, the export tax rebate rate of some textiles and garments has increased from 11% to 13%, which is equivalent to 16 million yuan saved by our county enterprises.

The impact of export tax rebate policy on our county enterprises is mainly in the textile and garment industry.

From the list of textile commodities that increase the export rebate rate, the commodity code of many varieties appears in the form of the whole chapter (rather than the specific code), covering most of the textiles and clothing exported by our county, and the extent of its influence is greater.

The Wenzhou customs office in the Ao River office took the year of July 1, 2007 (the implementation date of tax rebate reduction) to the June 30, 2008 one year period as the statistical caliber. According to the "list of commodities that raise the export tax rebate rate" announced by the Ministry of finance of the State Administration of Taxation on the adjustment of export tax rebate rates for textiles and garments, it is estimated that the export of textiles and garments exported to US $117 million 640 thousand by Cangnan enterprises can enjoy the treatment of increasing the export tax rebate rate in the year. The reference value of the US dollar to 6.82 yuan is increased by 2 percentage points, which is equivalent to 16 million yuan saved by Cangnan enterprises.

For the textile and garment industries with increasingly small export profits, the support effect of these 2 percentage points is still very obvious.

The export tax rebate rate dropped from 17% to 11% and then increased to 13%. The use of this policy tool also reflects our intention to develop this industry.

With the tightening of macro environment, the export rebate rate of products with larger influence will be more than 2 percentage points, which will help restore confidence in the market.