en de es fr it pt zh-CN Find us on Twitter Find us on LinkedIn

China To Improve Export Tax Rebates

In a statement on its website on May 15, China's State Council announced a package of enhancements to bolster its flagging foreign trade sector, including improvements to the country's export tax rebate system.
With total imports and exports stagnating so far this year, despite total trade having been budgeted to rise by an overall rate of some 7.5 percent over the whole of 2014, the State Council, in its statement, expanded on a number of policies 'to support the stable growth of foreign trade' in a sector which has a key role in the Chinese economy, particularly in the provision of employment.
The package included such measures as promoting the use of the renminbi and currency hedges for cross-border trade, providing export credit insurance, and encouraging Chinese companies to import advanced technology and to invest abroad to improve their global competitiveness, as well as accelerating export tax rebates 'to ensure full and timely refunds.'
Within a move to expand the export of services, there will also, for example, be an expansion of the pilot scheme to allow financial leasing companies to enjoy export tax refunds on goods leased to foreign lessees.
In addition, the State Council called on the Ministry of Commerce to speed up the implementation of China's expansive free trade agreement strategy, and to support Chinese companies 'actively' in their efforts to counteract anti-dumping and anti-subsidy trade disputes and to instigate its own such investigations whenever thought necessary.

News

Quantum Auditors & 123 Consulting joins TGS Global Network

TGS are proud to be in South Africa with our most recent member, Quantum Auditors / 1.2.3. Consulting. With offices situ

Read more >


Massie Turcotte joins TGS Global Network

TGS are proud to announce a new member in Canada.   Massie Turcotte gives TGS a presence that stands out from other

Read more >


PGK Consultores joins TGS Global Network

TGS is delighted to announce the membership of PGK Consultores, Argentina. PGK is a dynamic firm whose partners began th

Read more >


Garssa Consulting has joined the TGS Global Network

TGS welcome Garssa Consulting to TGS. In 2012, Garssa Consulting saw a gap in the Colombian market and established a hig

Read more >


Nakamoto & Company has joined the TGS Global Network

We are delighted to welcome our first Japanese member firm, Nakamoto & Company / Nakamoto International Tax Corporat

Read more >


>