Raising Tax Rebate Rate To Boost Laiwu's Textile And Clothing Exports
Since August 1st, the export rebate rate of some textiles and garments has increased from 11% to 13%. This is the first time that China has adjusted the tariff rebate rate since 2006.
The adjustment involves 44 categories of textile and clothing products of 9 categories and 45 categories in Laiwu, accounting for 92.6% of Laiwu's textile and garment export varieties.
It is expected that by the end of this year, Laiwu's textile and garment exports will increase by about US $10 million.
The export tax rebate rate increased by 2 percentage points, equivalent to an increase of $1 in exports and $0.14 in revenue.
In the 8~12 months of this year, the general trade of textile and clothing in Laiwu will be exported to US $36 million, which will increase the tax rebate by 4 million 560 thousand yuan.
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