ANNOUNCEMENT 01 Dec 2008In December 2008, the government of China announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
MOF, Notice NO 2008 (1040). Available at http://www.chinatax.gov.cn/n8136506/n8136563/n8193451/n8193466/n8193602/8884313.html
On 1 December 2008, the government of China raised the Value Added Tax(VAT) rebates for exports of watch components.
Exporters of the benefitingproducts may recuperate the full VAT included inintermediate products.
The general VAT in China is equal 17 percent.