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China Raises Average Export Rebate Levels

China has announced plans to raise export tax rebate levels as of 1 November. Among the headline changes decided at the 8 October State Council Executive Meeting, where the issue was debated, were the following:

  • In the case of exports that currently have a rebate entitlement of 13%-15%, the rate will be raised to 16%
  • In the case of exports that currently have a rebate entitlement of 9%, the general rate will be raised to 10%, while in certain specific instances the rate will be raised to 13%
  • In the case of exports that currently have a rebate entitlement of 5%, the general rate will be raised to 6%, while in certain specific instances the rate will be raised to 10%
  • In the case of high-energy usage, heavy-polluting, resource-dependent products or over-produced items, the export rebate rates will remain unchanged

During the same State Council session, it was also agreed to cut the number of tax rebate bands from seven to five and to reward those companies with exemplary credit and tax payment histories with access to streamlined export procedures and shorter overall processing times. In an additional move, it was also resolved to optimise the overall efficiency of the export process by switching to a wholly-online system.

For further details (in Chinese), please visit the following link:

State Council Executive Meeting Decides to Improve Export Tax Rebate Policy and Accelerate the Export Tax Rebate Process

Content provided by Picture: HKTDC Research
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