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Reduction of VAT Rebates

Written by Administrator
Thursday, 06 March 2008
The recent announcement on June 19 of the reduction and elimination of VAT rebates for certain export products will have a significant impact not only on China’s export of manufactured goods to the U.S. but also on the fundamental structure of the manufacturing sector in China. The following is a summary of the current status: VAT rebates will be reduced or eliminated for more than 2,800 export items or 37% of all export items. Such a change in policy will become effective July 1, 2007. Specifically, tax rebates on 553 “high energy-consuming” or resource intensive products such as cement, fertilizer, and non-ferrous metals will be eliminated; tax rebates on 2,268 “easy to trigger trade frictions” will be reduced from a range of 8 to 17% to a range of 5 to 11% on items such as garments, toys, and steel products. according to: forums.industryweek.com/showthread.php?t=1196 Add this page to your favorite Social Bookmarking websites
Last Updated ( Thursday, 06 March 2008 )

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