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Some textile companies will benefit from raising the export tax rebate rate?
Release Date:
2015/01/08
Notice issued by the Ministry of Finance and the State Administration of Taxation on December 31: Increase the export tax rebate rate of some high value-added products, textiles and clothing (implemented from January 1, 2015). Including chapters 50 to 63 non-retail silk yarns, etc., non-retail carded pure wool yarns, etc., wool men's coats, cloaks and similar articles, knitted or
Notice issued by the Ministry of Finance and the State Administration of Taxation on December 31: Increase the export tax rebate rate of some high value-added products, textiles and clothing (implemented from January 1, 2015).
Including chapters 50~63 non-retail silk yarn, non-retail carded pure wool yarn, wool men's overcoats, cloaks and similar products, knitted or crocheted plush fabrics, electric blankets and other products, the export tax rebate rate will be increased to 17% (implemented from January 1, 2015);
The export tax rebate rate of human hair and wig materials, whole wig made of synthetic textile materials, carbon fiber, carbon cloth, carbon fiber prepreg and other carbon fiber products processed by carding and thinning methods was reduced from 15% to 9% (implemented from April 1, 2015).
Overall, the adjustment of the tax rebate rate, the market had generally not expected.
Since the export tax rebate affects the value-added tax, and the value-added tax itself as a turnover tax does not affect the income statement, the increase in the export tax rebate rate has no direct impact on corporate profits, but it can be seen that the increase in the export tax rebate rate increases the room for corporate price increases, that is, increases Operating income and ultimately contributes profits, but this still depends on the bargaining power of the enterprise.
According to the static calculation of the main textile export companies according to the income of one percentage point, the actual income of the company will be less than the theoretical calculation value because of the influence of various factors such as foreign investors taking advantage of the opportunity to press prices, as well as the processing trade part without tax rebate.
The export tax rebate rate only involves some categories of textile manufacturing (yarn, fabric, etc.), which has a lower impact on the industry than previously estimated. All companies involved in this category adjustment will benefit, the degree of benefit depends on the proportion of the adjusted category in the company's export revenue and the proportion of the company's exports, the higher the proportion of exports, the greater the proportion of beneficiary categories, the higher the degree of benefit.
Source: Asian Textile Alliance
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Shandong Codlove Blanket Co.,ltd
Shandong Cheng Qian Home Textile Co., Ltd
International trade department telephone:
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Address:
137 Torch Road, High-tech Development Zone, Linyi City, Shandong Province
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