New Policy! The Industry Is Greatly Supported And The Tire Industry Is Particularly Benefiting

- Nov 22, 2018-

On October 22, the State Administration of Finance and the State Administration of Taxation issued the “Notice on Adjusting the Export Tax Rebate Rate for Some Products”. The export tax rebate rate for rubber products such as tires and hoses increased to 13% (increase 4%), natural rubber and synthetics. The raw materials such as rubber will increase to 10% (increase 5%), and the export-oriented enterprises in the industry will receive more financial support from the state, which is a good news for the future development of the company.

Industry sources said that the country's export tax rebate is an important subsidy policy for enterprises, which can effectively reduce export costs and encourage the rapid development of export-oriented enterprises.

The new policy will be officially implemented from November 1, Starting from September 15,the state has taken the lead in implementing a 13% export tax rebate rate policy for aviation tires.

Export tax rebate is a measure for the state to reward export enterprises. It is generally divided into two types: one is to refund the domestic tax that has already been paid, that is, the enterprise refunds the domestic tax that it has already produced when the goods are declared for export.The second is to refund the import tax. The export product enterprise will refund the imported import tax when it uses the imported raw materials or semi-finished products to process the products for export.