| Circular of the Ministry of Finance and the State Administration of Taxation on Adjusting the Export Rebate Rates |
| Thursday,November 27,2003 Posted: 09:54 BJT(0154 GMT) |
Departments (Bureaus) of Finance and State Taxation Bureaus of all provinces, autonomous regions and municipalities directly under the State Council and cities with separate plans under the state plan, and Bureau of Finance of Xinjiang Production and Construction Corps: As the State Council has approved the structural adjustment of the current export VAT rebate rates, relevant issues are hereby publicized as follows: I. The export rebate rates of products listed below shall remain unchanged: 1. Agricultural products subject to current export rebate rates of 5% and 13%; 2. Industrial products subject to current rebate rate of 13%, and produced with agricultural products as raw materials (excluding those provided in Article 3 and 4); 3. Goods subject to 17％ VAT as provided by the existing taxation policy and export rebate rate of 13% (excluding those stated in Article 3 and 4); 4. Goods subject to current export rebate rate of 17% including vessels, automobiles and their key spare parts and components, aerospace vehicles, digital controlled machine tools, processing centers, printing circuits, railway locomotives, etc. (See Annex 1 for commodity codes and names); II. The export rebate rate of wheat flour, corn flour, duck cuts, rabbit cuts and other goods listed in Annex 2 shall be raised from 5% to 13%; III. The export rebate policy shall be abolished of crude oil, timber, paper pulp, goat cashmere, eel fry, thulium ore, phosphorite, natural graphite and other goods listed in Annex 3. For export goods subject to consumption tax, the consumption tax refund (exemption) policy shall also be abolished. IV. The export rebate rates for goods listed below shall be lowered: 1. The export rebate rate for gasoline (commodity code 27101110), non-rolled zinc (commodity code 7901) shall be lowered to 11%; 2. The export rebate rate of non-rolled aluminum, yellow phosphorus and other phosphorous, non-rolled nickel, ferrous alloy, molybdenum ore and concentrate and other goods listed in Annex 4 shall be lowered to 8%; 3. The export rebate rate of coke and semi-coke, coking coal, light and dead burnt magnesium, fluorspar, talc, steatite and other goods listed in Annex 5 shall be lowered to 5%; 4. With the exception of goods stated in Article 1, 2, 3 and Paragraph 1,2 and 3 of this Article, the export rebate rate of all goods subject to the current rates of 17% and 15% shall be lowered to 13%; and the export rebate rate of all goods subject to 13% of both current tax rate and rebate rate shall be lowered to 11%. V. Export companies which shall export complete plant equipments (referring to those with export price of 2 million US dollars or above) and large electromechanical products (referring to those worth 1 million US dollars per unit) falling within Paragraph 4 of Article 4 after January 1, 2004 according to the export contracts signed before October 15, 2003, in which the prices of the goods are set unchangeable, shall get themselves registered and put on records at the local export rebate authority before November 15, 2003 by presenting the original and duplicated copies of the export contracts. After verification and examination, the Provincial State Taxation Bureaus concerned shall submit qualified export contracts and other relevant documents to the State Administration of Taxation no later than November 30, 2003 (See Annex 6 for sample report). With the approval of the State Administration of Taxation in conjunction with the Ministry of Finance on the basis of their verification and examination, the local State Taxation Bureaus shall refund the tax in accordance with the export rebate rates prior to the adjustment. Complete plant equipment and large electromechanical products not registered and recorded before November 15, 2003 shall all be subject to the new export rebate rates. VI. All local finance and taxation authorities shall carefully study and comprehend the provisions of this Circular, take effective measures to strictly implement relevant policies of the Circular by lawfully granting export rebates in a bid to safeguard the interests of both the country and the companies, and at the same time closely cooperate with the departments concerned in charge of commerce, customs, foreign exchange and companies in order to promote export. VII. As of January 1, 2004, all companies shall be subject to the export rebate rates set in this Circular for their goods exported in whatever modes of trade. The specific date of implementation shall accord with the date of departure indicated by the customs on the export goods declaration form. Annexes: 1, 2, 3, 4, 5, 6 Ministry of Finance of the People’s Republic of China State Administration of Taxation of the People’s Republic of China October 13, 2003 All information published in this website is authentic in Chinese. English is provided for reference only. |
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