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Six Industries Increase Export Rebate Rate In April 1St

2009/3/31 17:36:00 42068

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Recently, the Ministry of Finance and the State Administration of Taxation issued the notice on improving the export tax rebate rate of textile, electronic and information products, and clearly raised the export tax rebate rate of textiles, clothing, light industry, electronic information, steel, non-ferrous metals and petrochemical products from April 1, 2009, involving 3802 tax numbers.

According to the contents of the notice, specific adjustments should be made to increase the export tax rebate rate of goods such as CRT color TV to 17%, raise the export tax rebate rate of textiles and clothing to 16%, raise the export tax rebate rate of metal furniture and other commodities to 13%, raise the export tax rebate rate of goods such as vehicle rearview mirror to 11%, raise the export tax rebate rate of goods such as locks to 9%, raise the export tax rebate rate of commodities such as commodity calcium hypochlorite and other calcium hypochlorite to 5%.. This adjustment involves 3802 tax numbers.

The notice also made it clear that the specific execution time of the above provisions shall be based on the export date specified by the Customs at the "Declaration of export goods (exclusive export tax refund)").

For the adjustment of the export tax rebate rate of the six industries, various industries applauded, and the major media and experts and scholars also analyzed the deep reasons.

Textile industry: adjustment is expected

Since April 1st this year, the export tax rebate rate of textiles and clothing has increased to 16%.. Since July 2008, the state has increased the export tax rebate rate of textile and clothing products 3 times, and this time it continues to rise to 16%.

It is expected to increase profits by 10 billion for export textile and garment enterprises.

Media analysts believe that the export tax rebate once again raised in the market expectations, but the speed and the amount is different, Yu Yuanxian imagined that the sharp deterioration of export data in February is the direct cause of this increase.

In the 1-2 months of this year, China's textile and apparel exports totaled 21 billion 903 million US dollars, down 14.54% from the same period last year. In February, textile and clothing decreased by 35.19% compared with the same period last month. In February, the export volume of textile and clothing decreased by 56.2% compared with January.

At the two national meetings held in March, Qi Jianyan, a number of delegates and members, once again raised the export tax rebate rate of the textile industry.

Zhao Linzhong, chairman of the National People's Congress and chairman of the board of directors of Zhejiang fortune run group, was concerned about the proposal to raise the textile export tax rebate rate from 15% to 17%.

Experts analyzed that the government raised the export tax rebate rate on the other hand, although some products still have room for improvement, but under the current market demand, this operation shows the government's gradual and orderly regulation. If the intensity is too fierce, it will create an international market supply capability to increase too fast, resulting in a rapid decline in market prices, but will exacerbate the burden on enterprises.

Non-ferrous metal tax rebate rate increased favorable industries

Since April 1, 2009, the export tax rebate rate of some nonferrous products has been adjusted to 9% to 17%.

The products mainly include rolled copper alloy, alloy nickel bar, rod, profile, and aluminum alloy hollow profile.

Since the second half of 2008, the contradiction between supply and demand of non-ferrous metals industry has been highlighted, with serious excess capacity, deteriorating stock situation, and the price of nonferrous metals has plunged sharply, and some products have approached the cost price.

In the face of the weak demand, the nonferrous industry has reduced production, but still can not improve the deteriorating industry fundamentals.

At present, the prices of non-ferrous metals such as aluminum, copper, lead, zinc and nickel have fallen by more than 50%, and the non-ferrous metal industry has entered a stage of deep adjustment.

Data show that last year's fourth quarter in the inventory, deleveraging hit, the downstream demand for the color industry is almost shock, the first quarter of this year, the rigid demand has been restored, causing the downstream inventory began to rebuild, the two quarter will enter the traditional peak season, if we can rely on the implementation of national economic stimulus plan, the demand is more likely to exceed the first quarter, the copper in the sub sectors is relatively strong, and lead and zinc show the bottom characteristics.

In addition, due to the wide variety of non-ferrous metal products, wide application fields, high degree of correlation and important role in economic and social development, the state has issued a plan for the adjustment and revitalization of non-ferrous metals industry in a timely manner, and the plan for the adjustment and revitalization of non-ferrous metals industry has provided a guarantee for the recovery of non-ferrous metals.

Increased tax rebate rate will ease domestic steel overcapacity

The export tax rebate rate of some steel products has been adjusted to 13%.

The main varieties are hot-rolled stainless steel coil and part silicon steel.

This is the second time since 2008 that China has raised the export tax rebate rate. It is also the sixth adjustment since the beginning of the second half of 2008, when the export demand rebates and the export tax rebate policy is restarted.

According to the analysis, the re export tax rebate rate will promote export growth and ease domestic steel overcapacity.

It is reported that the main problem facing the steel industry is overcapacity.

Especially when demand is weakened by the economic downturn, the contradiction of overcapacity is even more prominent.

In January, iron and steel enterprises resumed production, resulting in increased production and increased supply of resources.

Due to the sharp fall in domestic steel prices in the second half of February, small steel enterprises began to stop production, and large and medium-sized steel enterprises began to limit production. In February, the crude steel output decreased by 1.9 percentage points.

It is estimated that domestic crude steel output will continue to decline in March.

In 1-2 months, inventories of all kinds of steel increased significantly compared with the end of 12 in 2008.

Chen Bin, director of the Industrial Coordination Division of the national development and Reform Commission, said that raising the export tax rebate rate for some commodities is a callback to the export tax rebate in the past few years, or even raising export duties, which is in line with international practice and is also necessary.

The increase in tax rebate rate has little impact on the electronic information industry.

In order to implement the package plan to cope with the international financial crisis and promote economic growth, and implement the ten major industrial adjustment and revitalization plans, the export tax rebate rate has also raised the tax rebate rate of the planned electronic information products.

According to the statistics of China electronic newspaper, in January 2009, the total import and export volume of electronic information products was 42 billion 30 million US dollars, down 38.2% from the same period last year, which is 9.1 percentage points lower than the national import and export volume.

Imports and exports of all industries showed negative growth.

The export tax rebate rate increase of electronic information products covers a wide range, but relevant people say that because of the special industry, the export tax rebate rate will not have a great impact.

Link: review of export tax rebate policy adjustment

The eighth (April 1, 2009): increase the export tax rebate rate of textiles, clothing, light industry, electronic information, steel, non-ferrous metals, petrochemical and other commodities.

The seventh time (November 1, 2008): the adjustment involved 3486 commodities, accounting for 25.8% of the total number of goods in the customs tariff.

It mainly includes two aspects: first, we should appropriately raise the export tax rebate rate of labour intensive commodities such as textiles, clothing and toys.

The two is to raise the export tax rebate rate of high technology and high added value commodities such as anti AIDS drugs.

At that time, China's export tax rebate rate will be divided into 5%, 9%, 11%, 13%, 14% and 17% six.

The sixth time (August 1, 2008): the export rebate rate of some textiles and garments increased from 11% to 13%, and the export tax rebate rate of some bamboo products increased to 11%.

The fifth time (July 1, 2007): the adjustment involved 2831 commodities, accounting for about 37%. of the total number of goods in the customs tariff. After this adjustment, the export tax rebate rate has changed to 5%, 9%, 11%, 13% and 17%.

The fourth time (2005): China reduced and cancelled the export tax rebate rate of some products with high energy consumption, high pollution and resources, and at the same time reduced the export tax rebate rate which was easy to cause trade friction such as textiles, and increased the export rebate rate of major technical equipment, IT products and raw and processed medicine products.

The third time (January 1, 2004): the state adjusted export tax rebate rate was 5%, 8%, 11%, 13% and 17%.

The second time (1998): second adjustments were made to promote exports, and the tax rebate rate of some export products increased to 5%, 13%, 15% and 17% four.

For the first time (1995 and 1996), a large export tax rebate policy was adjusted, and the original export products were zeros at 3%, 6% and 9%.