ANNOUNCEMENT 03 Jun 2009
In June 2009, the government of China announced a change in the tax legislation for exporters.
NUMBER OF INTERVENTIONS
PRC Ministry of Commerce, June 3rd, 2009. (财税88号—关于进一步提高部分商品出口退税率的通知)
On 3 June 2009, the government of China raised the Value Added Tax(VAT) rebates for designated textile and garment exports. Exporters of the benefiting products may recuperate part of the VAT included in intermediate products.
Instead of the general Chinese VAT of 17 percent, intermediates used in these exports shall only be subject to a VAT of 2 to 12 percent. 130 products have been exempted from VAT on included intermediates altogether.