November 17, 2008
Increase in Export Refund Rates
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.
Copyright ©2009 by Kaye Scholer LLP. All Rights Reserved. This publication is intended as a general guide only. It does not contain a general legal analysis or constitute an opinion of Kaye Scholer LLP or any member of the firm on the legal issues described. It is recommended that readers not rely on this general guide but that professional advice be sought in connection with individual matters. References herein to "Kaye Scholer LLP & Affiliates," "Kaye Scholer," "Kaye Scholer LLP," "the firm" and terms of similar import refer to Kaye Scholer LLP and its affiliates operating in various jurisdictions.
Copyright ©2009 by Kaye Scholer LLP. All Rights Reserved. This publication is intended as a general guide only. It does not contain a general legal analysis or constitute an opinion of Kaye Scholer LLP or any member of the firm on the legal issues described. It is recommended that readers not rely on this general guide but that professional advice be sought in connection with individual matters. References herein to "Kaye Scholer LLP & Affiliates," "Kaye Scholer," "Kaye Scholer LLP," "the firm" and terms of similar import refer to Kaye Scholer LLP and its affiliates operating in various jurisdictions.
