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China To Improve Export Tax Refunds

by Mary Swire, Tax-News.com, Hong Kong

19 August 2015


As part of China's efforts to boost exports, the State Administration of Taxation (SAT) has issued a notice proposing ways to improve the efficiency of its export tax rebate payments system.

Above all, it promises to look into its administrative requirements "to accelerate the mechanism for obtaining export tax rebates, so as to ensure the full and timely payment of tax rebates."

The agency will examine ways to further expand its export tax rebate services over the internet, through the use of big data, cloud computing, and other emerging technologies.

The notice added that the SAT will give particular attention to "innovative mechanisms" to improve rebates for cross-border e-commerce businesses, and to guarantee the "timely and accurate implementation" of the value added tax (VAT) zero rate for certain services and speed VAT refunds for foreign tourists.

In the first half of this year, the SAT saw a 12.4 percent rise in rebates to over RMB650bn (USD102bn), compared with the first six months of 2014. It was noted that this was much greater than the increase of only one percent in China's total exports during the same period.

TAGS: tax | business | value added tax (VAT) | export duty | commerce | China | internet | e-commerce | tax breaks | services | VAT refunds | Tax

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