CHINA: China Expected to Increase VAT Rebate on Textiles
It is anticipated the Chinese government will soon make an official announcement that the export tax rebate on textiles has been increased from the current 11 percent to 13 percent, while the tax rebate on apparel will change from 11 percent to 15 percent. This is welcome news to the sector. The increased rebate will…
Egytex News Desk
Egytex
It is anticipated the Chinese government will soon make an official announcement that the export tax rebate on textiles has been increased from the current 11 percent to 13 percent, while the tax rebate on apparel will change from 11 percent to 15 percent. This is welcome news to the sector.
The increased rebate will boost the profitability of exports, especially to Europe where the yuan appreciation is not a major factor. January through April textile and apparel exports to Europe soared 35 percent to 14.115 billion US dollars or 26.5 percent of all exports, according to Global Express.
Source: Business Recorder.com
From the Egytex news archive, first published on 17 June 2008. Figures and names are as reported at the time.
