April 25 2022

China to step up export tax rebates to support foreign trade

Source: Xinhua

China will further leverage export tax rebates to provide stronger support for foreign trade enterprises, according to a circular jointly released by the State Taxation Administration and other government organs.

The circular outlines measures to improve export tax rebate policies and streamline procedures for applications.

Efforts will be made to strengthen the linkage of export credit insurance and export tax rebate policies, and improve rebate policies for processing trade firms, according to the circular.

The country will step up efforts to enhance data sharing and smooth the connections among customs, tax and other departments to further streamline export tax rebate procedures, it said.

Efforts will also be made to support cross-border e-commerce firms by encouraging qualified enterprises to actively claim export tax rebates, it said.

A State Council executive meeting earlier this month decided to increase export tax rebates to promote foreign trade development. Enterprises with better credit records will enjoy greater customs clearance and tax refund facilitation.