IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jan 2014 | Removal date: open ended
Still in force

Tax-based export incentive

On 30 December 2013, the Ministry of Finance issued Notice No. 96 of 2013. To support the development of e-commerce activities, exported goods sold via e-commerce platforms can benefit from their current VAT rebate rates. The new policy will be effective on 1 January 2014.
Previously, exported goods sold via e-commerce could not benefit from the tax rebate system mainly because of the technical barriers to customs declaration. Goods sold online are commonly sent in small packages and it was difficult to declare, track and refund each package by both customs and the exporters.
 
Under the new regulation, companies only need to compile a list of exported goods and declare the customs via an online system. After goods are exported and the payments are settled in their foreign currency accounts, they can apply for the certificate of customs declaration and apply for the VAT rebate for their exported goods.
 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

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