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Increase in Export Refund Rates

November 17, 2008

On November 17, 2008, the State Administration of Taxation and the Ministry of Finance issued the Notice on the Increase of Export VAT Refund Rates for Certain Labor-Condensed Products, effective December 1, 2008. This round of adjustment involves a total of 3,770 products including, but not limited to: tires, glassware, aquatic products, aluminum boards and household appliances. Including this round, China has made three rounds of adjustments to export VAT refund rates in the second half of 2008. The other two rounds were made on July 30, 2008 and October 21, 2008. These adjustments are aimed to encourage export of, and reduce export costs for, the involved products.


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