The export tax rebate rate will increase and the two types of lighting products will be affected.
On November 17, the Ministry of Finance announced the scope and tax rate of the products involved in the third increase in export tax rebate rate in China this year, including some labor-intensive products, mechanical and electrical products and other products totaling 3,770 items.
The adjustment will be implemented from December 1st, and the export tax rebate rate will be raised for the third time in the second half of this year. The coverage and strength have exceeded the previous two times. Experts believe that the adjustment of export tax rebate rate is conducive to alleviating the tight capital chain of foreign trade enterprises, and is expected to further reduce the pressure on labor-intensive export enterprises.
Premier Wen Jiabao of the State Council hosted a State Council executive meeting on the 12th. The meeting decided to further improve some labor-intensive products, mechanical and electrical products and other products on the basis of increasing the export tax rebate rate in the second half of this year in order to support labor-intensive SMEs and support industrial optimization and upgrading. The export tax rebate rate for products affected by the impact. In order to implement the decision of the State Council, the Ministry of Finance and the State Administration of Taxation recently issued the Notice of the Ministry of Finance and the State Administration of Taxation on Improving the Export Tax Rebate Rate for Goods-Intensive Products and Other Goods. The "Notice" clarifies the specific scope of 3,770 items of goods with higher tax rebates, including those for lighting products: the export tax rebate rate for closed spotlights in Chapter 85 is increased from 13% to 14%; the chandeliers in Chapter 94, etc. The export tax rebate rate has increased from 11% to 13%.
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