ANNOUNCEMENT 01 Feb 2009
In February 2009, the government of China announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
MOF, Notice NO 2009 (14). Available at http://www.mof.gov.cn/zhengwuxinxi/caizhengwengao/2009niancaizhengbuwengao/caizhengwengao2009dierqi/200904/t20090413_132185.html
On 1 February 2009, the government of China raised the Value Added Tax(VAT) rebates for designated textile and garment exports. Exporters of the benefitingproducts may recuperate 88 percent of the VAT included inintermediate products.
Instead of the general Chinese VAT of 17 percent, intermediates used in these exports shall only be subject to a VAT of 2 percent.